Upon the filing of any initiative or referendum petition with the city clerk-treasurer, petitioners shall post bond with the clerk- treasurer in an amount sufficient to offset the estimated expense of conducting the election, unless such election is to be held at the time of a regular general municipal election. As near as practicable after the election, the total actual expenses of the election shall be tabulated by the city clerk-treasurer. The petitioners shall be jointly and severally liable for payment into the city treasury of the whole amount of the expenses of such election. (Ord. 380, 7-12-1977)