The powers of initiative and referendum are reserved to the people. Ordinances and resolutions may be proposed by initiative petition and adopted by election, and ordinances and resolutions adopted by the Council shall be subject to referendum, to the extent and manner now or hereafter provided by the general laws of Ohio, except as otherwise provided in this Charter. Whoever seeks to propose an ordinance or resolution by initiative petition or files a referendum petition against any ordinance or resolution adopted by Council, shall, before circulating such petition, file a verified copy of the proposed ordinance or resolution with the Board of Elections. Initiative and referendum petitions shall be filed with the Board of Elections, which Board shall determine the adequacy and certify such petitions within the time prescribed by the general laws of Ohio.