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The circulated petition shall be filed with the City Clerk not later than one month after the filing of a copy as provided above. Within one month after date of filing the circulated petition, the City Clerk shall examine it and ascertain whether it has been prepared and circulated as required and whether the required number of registered qualified electors of the City of Guthrie have signed it. The City Clerk shall then attach a certificate to the petition. If the City Clerk certified that the petition has not been prepared and circulated as required and/or lacks a sufficient number of signatures, the petition shall have no effect; but if the City Clerk certifies that the petition has been prepared and circulated as required and has a sufficient number of signatures, he shall submit the petition and certificate to the City Council at its next meeting.