Within thirty (30) days after the enactment by Council of any ordinance or resolution which is subject to a referendum under the laws of the State, a petition, signed by not less than ten percent (10%) of the total electors voting at the regular Municipal election, may be filed with the Council, requesting the ordinance or resolution be repealed or submitted to a vote of the electors. When said petition is filed, the Clerk-Treasurer shall first ascertain the sufficiency of the petition and, if found sufficient, the Council shall thereupon, within thirty (30) days of the filing of such petition, reconsider such ordinance or resolution. If Council fails to repeal said ordinance or resolution within thirty (30) days, the Council shall submit it to a vote of the electors at the next general or regular Municipal election occurring more than ninety (90) days after the filing of such petition; but if such petition is signed by at least fifty-one percent (51%) of such electors, the date of the election may be fixed therein, which may be a special election to be held at any time more than ninety (90) days after the filing of such petition.
Ordinances providing for the annual tax levy or for improvements petitioned for by the owners of a majority of the front footage of the property benefited and to be specially assessed therefor, and appropriation ordinances limited to the subject of appropriations, shall not be subject to referendum; but all other ordinances, including emergency ordinances, shall be subject to referendum, except that emergency ordinances shall go into effect at the time indicated therein. If, when submitted to a vote of the electors, an emergency measure is not approved by a majority of those voting thereon, it shall be considered repealed as regards any further action thereunder; but such measure shall be deemed sufficient authority for payment, in accordance with the ordinance, of any expense incurred previous to the referendum vote thereon.