Qualified voters of the City of Port Isabel may require that any Ordinance or Resolution, with the exception of Ordinances or Resolutions levying taxes, passed by the City Commission be submitted to the voters of the City for approval or disapproval, by submitting a petition for this purpose within 30 days after final passage of said Ordinance or Resolution, or within 30 days after its publication. Said petition shall be addressed, prepared, signed and verified as required for petitions initiating legislation as provided in Section 6.02 of this Charter and shall be submitted to the City Secretary. Immediately upon the filing of such petition, the City Secretary shall present said petition to the City Commission. Thereupon the City Commission shall immediately reconsider such Ordinance or Resolution, and if it does not entirely repeal the same, shall submit it to popular vote as provided in Section 6.02 of this Charter. Pending the holding of such election, such Ordinance or Resolution shall be suspended from taking effect and shall not later take effect unless a majority of the qualified voters voting thereon at such election shall vote in favor thereof. Provided further, however, (i) no petition pertaining to any Ordinance or Resolution or the subject matter or any such Ordinance or Resolution shall be submitted, or if submitted, acted upon by the City Commission within twelve months from the date of any election therefore held concerning such Ordinance or Resolution or the subject, matter thereof; and (ii) no initiative petition shall be concerned with appropriating money or authorizing the levy of taxes or any other subject prohibited by the laws of the State of Texas or this Charter.