Within thirty (30) days after the final passage by Council of any ordinance or resolution which is subject to a referendum under the laws of the State of Ohio, a petition signed by electors of the City not less in number than ten percent (10%) of the total electors voting at the last regular Municipal election may be filed with the Clerk of Council requesting that the ordinance or resolution be repealed or submitted to a vote of the electors. When said petition is filed, the Clerk of Council shall ascertain the sufficiency of the petition and, if found sufficient, the Council shall, within thirty (30) days after the filing such petition, reconsider such ordinance or resolution. If upon such reconsideration such ordinance or resolution is not repealed, the Council shall provide for submitting the same to a vote of the electors at the next general election or regular Municipal election as provided by the Constitution and laws of the State of Ohio.