An ordinance adopted by the electorate through initiatory proceedings may not be amended or repealed for a period of two years after the date of the election at which it was adopted, and an ordinance repealed by the electorate may not be re-enacted for a period of two (2) years after the date of the election at which it was repealed. Any ordinance may be adopted, amended or repealed at any time by appropriate referendum or initiatory procedure in accordance with the foregoing provisions of this chapter or if submitted to the electorate by the Commission on its own motion.