(A) An initiatory or a referendary petition shall be signed by not less than fifteen (15%) per cent of the registered electors of the Village who have signed said petition within six (6) months before the date of filing the petition with the Clerk Treasurer. Before being circulated for signatures, all such petitions shall be approved as to form by the Clerk-Treasurer. No such petition need be on one paper but may be aggregate of two (2) or more petition papers. Each signer of a petition shall sign his/her name in ink or indelible pencil, and shall place thereon, after his/her name, the date and his/her place of residence by street and number, or by other customary designation. To each petition paper there shall be attached a sworn affidavit by the circulator thereof, stating the numbers of the signers thereto and that each signature is that of the person whose name it purports to be, and that it was made in the presence of the affiant.
(B) Such petition shall be filed with the Clerk-Treasurer who shall, within ten (10) days, canvass the signatures thereon to determine the sufficiency thereof. If found to contain an insufficient number of signatures of registered electors of the Village, or to be improper as to form or compliance with the provisions of this section, the Clerk-Treasurer shall notify forthwith the person filing such petition, and ten (10) days from such notification shall be allowed for the filing of supplemental petition papers. When found sufficient and proper, the Clerk-Treasurer shall present the petition to the council at its next regular meeting.