Any matter subject to the initiative may be subjected to referendum . The petition shall state, at the head of each page, or on an attached paper, a description of the ordinance and is signed by a number of registered voters of the City equal to at least ten percent (10%) of the total number of voters registered on the date of the last preceding regular municipal election, and is filed with the City Administrator requesting that any such ordinance be repealed or be submitted to a vote of the registered voters. Any ordinance, which has been adopted by the Council, but which is not yet effective, and upon which a petition has been filed, shall be suspended in its operation as soon as a petition is found sufficient; all other ordinances, including an emergency ordinance, shall remain in effect, but shall be repealed if the majority of the voters voting on the ordinance vote against it. The Council shall thereupon reconsider the ordinance at its next regular meeting, and either repeal it or by aye and no vote re affirm its adherence to the ordinance as passed. In the latter case, it shall be placed on the ballot at the next election or at a special election called for that purpose, as the Council determines. If a majority of the voters voting thereon favor the ordinance, it shall go into effect immediately or on the dates specified in the ordinance; if a majority of electors voting thereon vote against the ordinance, it shall be considered repealed upon certification of the election results.