a.   Action by Council.  When an initiative or referendum petition has been finally determined sufficient, the Council shall promptly consider the proposed initiative ordinance in the manner provided in Article V or reconsider the referred ordinance by voting its repeal.  If the Council fails to adopt a proposed initiative ordinance without any change in substance within sixty (60) days, or fails to repeal a referred ordinance within thirty (30) days after the date the petition was finally determined sufficient, it shall submit the proposed or referred ordinance to the voters of the City.
   b.   Submission to Voters.  The vote of the City on a proposed or referred ordinance shall be held no sooner than sixty (60) days and no later than one (1) year from the date of the final Council vote thereon.  If no regular City election is to be held within the period prescribed in this subsection, the Council may at its discretion provide for a special election at an earlier date within the prescribed period.  Copies of the proposed or referred ordinance shall be made available at the polls.