The powers of the initiative, referendum and the recall of elected municipal officers are hereby reserved to the electors of the city. The provisions of the Elections Code of the State of California, as the same now exist or may hereafter be amended, governing the initiative and referendum and the recall of municipal officers in cities shall be applicable insofar as the same are not in conflict with this Charter; provided, however, that the number of signatures which shall be required for the exercise of the power of initiative shall be as provided in Section 161.