A petition for initiative or referendum shall be signed by registered qualified electors of the city in a number equal to the greater of (1) fifteen percent (15%) of the electors who voted at the last preceding general election, or (2) three hundred (300). Before the petition is circulated for signatures, the Clerk shall approve the form of the petition in accordance with Public Act 116 of 1954, as amended, of the Michigan Compiled Laws (Michigan Election Law). Each elector who signs a petition shall date his or her signature and include his or her residential address on the petition. The circulator of a petition shall attach to each petition a certificate stating (1) the number of signatures on the petition; (2) that each signature is that of the person whose name it purports to be; and (3) that each signature was made in the presence of the circulator.