SECTION 7.01 INITIATIVE.
   (A)   The voters of this City shall have the power to propose any ordinance, except an ordinance appropriating money or authorizing the levy of taxes, or one repealing such an ordinance, and to adopt or reject the same at the polls.
   (B)   Any initiated ordinance may be submitted to the City Council by a petition signed, registered and qualified voters of the City equal in number to at least thirty (30) percent of the number of votes cast at the last regular City election, or three hundred (300) whichever is greater. Said petition signatures must meet the requirements as set out the Texas Election Code. The City Secretary shall certify the petitions.
   (C)   Initiative petitions shall contain the full text of the proposed ordinance.
   (D)   Such ordinances may be passed by the City Council without change, or must be submitted to the voters at an election called for that purpose and held in compliance with the Texas Election Code.