Within twenty (20) days after any initiative petition is filed with the Clerk, the Clerk shall determine its sufficiency and, if found sufficient, shall certify the same to Council. Within forty (40) days after such certification, Council shall take final action, either enacting, amending, or rejecting the proposed ordinance or resolution. If, within that forty (40) days, Council fails to pass such proposed ordinance or resolution or passes it in some form other than that set forth in the petition therefor, 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 election occurring more than ninety (90) days after the certification of such petition by the Clerk. If the Clerk shall find any such petition insufficient, he or she shall, within twenty (20) days after the filing thereof, certify the particulars in which the petition is defective, deliver a copy of that certificate to the Committee named on the petition, return the entire petition to such Committee and make a record of the delivery. Such Committee may thereafter take steps to make the petition sufficient, and may refile it as an originally filed petition with the Clerk at any time within one year after the date of the first filing thereof.