SECTION 1. INITIATIVE.

   The electors shall have the power to propose any ordinance or resolution, except an ordinance appropriating money or authorizing the levy of taxes, and to adopt or reject the same at the polls, such power being known as the initiative. An initiated ordinance or resolution shall be submitted to Council by a petition signed in ink by qualified electors equal in number to at least ten percent (10%) of the total vote cast at the last regular municipal election, which petition shall be filed with the Clerk of Council. Within twenty (20) days after any such petition has been filed, the Clerk of Council shall determine the sufficiency of the petition, and if found sufficient, shall certify the same to the Council. Thereafter, the Council shall take final action, either enacting, amending, or rejecting the proposed ordinance or resolution, within forty (40) days after it has been certified sufficient by the Clerk of Council. If, within such forty (40) days, Council fails to pass such proposed ordinance or resolution or passes it in some form different from that set forth in the petition therefore, the petitioners, through the Committee named on such petition may, at the next regular meeting of Council, request in writing that it be submitted to a vote of the electors. Thereupon, Council shall provide for submitting the petitioned ordinance or resolution to the electors at the next general or regular scheduled primary or special municipal election occurring more than seventy-five (75) days after the certification of such petition by the Clerk; but if such petition is signed in ink by qualified electors equal in number to at least twenty percent (20%) of the total votes cast at the last regular municipal election, the date of the election may be fixed therein, which may be a special election to be held at any time more than seventy-five (75) days after the certification of such petition by the Clerk and within eight (8) months after such certification. If the Clerk of Council shall find any such petition insufficient, the Clerk of Council shall, within twenty (20) days after the filing thereof, certify the particulars in which the petition is defective, deliver a copy of the Clerk's certificate to the Committee named on such petition, return the entire petition to such Committee, and make a record of such delivery. Such Committee may thereafter take steps to make such petition sufficient, and may refile the same, as an originally filed petition, with the Clerk of Council at any time within one year after the date of the first filing thereof. (Amended 11-3-94.)