Upon receiving an initiatory or referendary petition from the Clerk, the Council shall, within thirty (30) days after publication in accordance with Section 7.1, either:
(a) If it be an initiatory petition, adopt the ordinance as submitted in the petition or determine to submit the proposal to the electors of the village.
(b) If it be a referendary petition, repeal the ordinance to which the petition refers or determine to submit the proposal to the electors of the village.
(Adopted 3-13-67)