When a bill is returned to the Council with the Mayor's disapproval, the Council shall cause the objections of the Mayor to be entered in its minutes and proceed to consider and vote on the bill. If, after such consideration, the bill is passed by an affirmative vote of not less than four (4) members of the Council, it shall take effect as an ordinance as if the Mayor had approved the same. If the bill shall fail, on being so considered, to receive four (4) affirmative votes of the Council it shall then be finally lost.