The referendum shall not be applicable to:
   1.    Legislation appropriating money;
   2.    Legislation levying a tax authorized by, or pursuant to, Section 9.01, Section 9.02 or Section 9.08 of this Charter;
   3.    Legislation providing for improvements petitioned for by the owners of a majority of the foot frontage of other property benefitted and to be especially assessed therefor;
   4.    Legislation submitting any measure to a vote of the electors;
   5.    Legislation subsequent to the first legislative measure of a series of legislative steps required to be taken to accomplish a particular purpose or objective; or
   6.    Emergency legislation passed in compliance with the provisions of this Charter.
   The taking effect of any legislation subject to referendum shall be postponed by the filing of a valid and sufficient referendum petition within thirty (30) days after the passage thereof. Each referendum petition found to be valid and sufficient shall be referred to a committee of Council to hold a public hearing thereon and to report its recommendations at the next regular meeting of Council. Council shall, not later than the third regular meeting following receipt of such referendum petition, either repeal the legislation or take appropriate action to submit it to a vote of the electors at the next primary or general election to be held not less than sixty (60) days after the filing of appropriate notice with the Board of Elections. If the legislation is approved by a majority of the electors voting thereon, the legislation shall take effect immediately upon official certification of the result of such election.