Prior to the date when an ordinance takes effect, it may be subjected to a referendum petition. If the petition is found to be sufficient under Section 5.03, said ordinance shall thereby be prevented from taking effect, and shall be placed on a ballot as determined by Section 5.03. If a majority of the voters voting thereon favors the ordinance contained in the petition, it shall be allowed to go into effect. If a majority of the voters voting thereon vote against the ordinance contained in the petition, it shall be considered repealed upon certification of the election results.
(Amended)