Every ordinance or resolution of the Council shall, before it goes into effect, be presented to the Mayor for approval. The Mayor, if he or she approves such an ordinance or resolution, shall sign and return it forthwith to Council. If he or she does not approve it, he or she shall, within ten (10) days after its passage, return it, with his or her objections, to Council, or, if not in session, to the next regular meeting thereof, which objections shall be entered upon its journal. The Mayor may approve or disapprove the whole or any item of an ordinance or resolution appropriating money. If he or she does not return such ordinance or resolution within the time specified in this section, it shall take effect in the same manner as if he or she had signed it. When the Mayor disapproves of an ordinance or resolution, or any part thereof, and returns it with his or her objections, Council may, after ten (10) days, reconsider it, and if such ordinance or resolution, or item, upon such reconsideration, is approved by a two-thirds (2/3) vote of all members elected, it shall then take effect as if signed by the Mayor.