Every ordinance or resolution of the Council shall be signed by the President of Council or substitute and attested by the Clerk of the Council who shall promptly present it to the Mayor. If the Mayor approves such legislation, he shall sign it and file it with the Clerk. The Mayor may approve or disapprove the whole or any part of any item of an ordinance appropriating money, but otherwise his approval or disapproval shall be addressed to the entire ordinance or resolution. If he disapproves it, or any item of it, he shall file it, with written notice of disapproval, with the Clerk. Unless an ordinance or resolution is filed with the Clerk with written notice of disapproval within ten (10) days after its passage by the Council, it shall take effect as though the Mayor had signed it. When the Mayor has disapproved an ordinance or resolution, or item of it, as herein provided, the Council may, but in no event later than the next regular meeting thereafter, reconsider it, and if upon such reconsideration, the ordinance, resolution or item is approved by at least two-thirds (2/3) of the members elected to Council, it shall take effect as if it had originally received the signature of the Mayor.