Upon the filing of any initiative or referendum petition with the city clerk, petitioners shall post bond with the clerk in an amount sufficient to offset the estimated expense of conducting the election, unless such election is to be held at the time of a regular general municipal election. As near as practicable after the election, the total actual expenses of the election shall be tabulated by the city clerk. The petitioners shall be jointly and severally liable for payment into the city treasury of the whole amount of the expenses of such election. (Ord. 263, 8-1-1988)