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Whenever the City Council receives a certified initiative or referendum petition from the City Clerk, it shall proceed at once to consider such petition. A proposed initiative ordinance shall be read and provisions shall be made for a public hearing upon the proposed ordinance. The Council shall take final action on the ordinance not later then 60 days after the date on which such ordinance was submitted to the Council by the City Clerk. A referred ordinance shall be considered by the Council and its final vote upon such reconsideration shall be upon the question, "Shall the ordinance specified in the referendum petition be repealed?" In the
case of referendum the entire repeal of the ordinance sought to be referred , and in the case of the initiative , the passage the City Council of the desired ordinance shall put an end to all proceedings under said petition.
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