Every ordinance or resolution passed by the Council shall be attested by the Clerk of Council and promptly presented to the Mayor. If the Mayor approves such legislation, he or she shall sign it within ten days after its passage or adoption by the Council, but if he or she does not approve it, he or she shall return it to the Clerk within said ten-day period together with a written statement of his or her objections, which objections shall be entered in full in the journal of the Council by the Clerk of Council. The Mayor may approve or disapprove the whole or any item of an ordinance appropriating money, but otherwise his or her approval or disapproval shall be addressed to the entire ordinance or resolution. If the Mayor shall not sign or veto an ordinance or resolution within the period above specified, it shall take effect in the same manner as if he or she had signed it on the last day of said ten-day period. Following the disapproval by the Mayor of an ordinance or resolution, or an item thereof as herein provided, the Council may, but not later than at its next regular meeting, reconsider the legislation vetoed by the Mayor and if such legislation shall be then approved by the affirmative votes of at least five members of the Council, it shall become effective notwithstanding the veto of the Mayor.