(a) The electors shall have the power to approve or reject at the polls any ordinance or resolution passed by the Council, except as hereinafter provided.
(b) Within thirty (30) days after the final passage by the Council of an ordinance or resolution, a petition signed by at least fifteen percent (15%) of the total vote cast in the last regular municipal election may be filed with the Clerk of Council, requesting that the ordinance or resolution be either repealed or submitted to a vote of the electors. The petition shall be submitted to the Clerk of Council and shall state the name of a committee of three (3) to five (5) electors.
Within ten (10) days after the petition is filed, the Clerk of Council shall determine the sufficiency of the petition. If the Clerk of Council finds the petition sufficient, such officer shall certify to the Council. The Council shall, within thirty (30) days after the certification of the petition by the Clerk of Council, reconsider the ordinance or resolution.
If the Council fails to repeal the ordinance or resolution within thirty (30) days, the Council shall submit it to a vote of the electors at the next election occurring more than ninety (90) days after the certification of the petition by the Clerk of Council.
If said petition is signed by twenty-five percent (25%) or more of the total vote cast in the last regular municipal election, the date of the election may be fixed by the petition. The date set in the petition may not be less than ninety (90) days from the time of the filing of the petition.
If the Clerk of Council finds any referendum petition insufficient, the Clerk of Council shall, within twenty (20) days after the filing of the petition, certify the particulars in which the petition is defective, deliver a copy of the certificate to the committee named on the petition, return the entire petition to the committee, and make a record of the delivery. The committee may take steps to make the defective petition sufficient, and may refile the petition, as an originally filed petition, with the Clerk of Council at any time within twenty (20) days of the date of the first filing.
(c) Ordinances and resolutions submitted to the Council by initiative petition and passed by the Council either with or without change, but not required to be submitted to a vote of the electors, shall be subject to referendum in the same manner as other ordinances and resolutions.