SECTION 11.05  REFERENDUM PETITIONS; SUSPENSION OF EFFECT OF ORDINANCE OR RESOLUTION.
   When a referendum petition is filed with the Clerk of Council, the ordinance or resolution sought to be reconsidered shall be suspended from taking effect. Such suspension shall terminate when:
   (1)   There is a final determination of insufficiency of the petition; or
   (2)   The petitioners’ committee withdraws the petition; or
   (3)   The Council repeals the ordinance; or
   (4)   Five (5) days have elapsed after the Board of Elections certifies the official vote on the question.