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I I I ment Section 5.05. Initiative. Any ordinance may be proposed by a petition which shall state at the head of each page or attached thereto the exact text of the proposed ordinance. If the council passes the proposed ordinance with amendments, and a majority of the sponsoring committee do not disapprove the amended form by a state- filed with the clerk-administrator within ten days of of its passage by the Icouncil, the ordinance need not be submitted to the voters. If the council fails to enact the ordinance in a form acceptable to the majority of the sponsoring Icommittee within sixty days after the final determination of sufficiency of the petition, the ordinance as originally proposed shall be placed on the ballot at the I next election occurring in the city. If no election is to occur within 120 days I I I I after the filing of the petition, the council shall call a special election on the ordinance to be held within such period. If a majority of those voting on the ordinance vote in its favor, it shall become effective immediately after adoption unless the ordinance specifies a later effective date. Section 5.06. Initiative to Amend the Charter. Nothing in this charter shall be construed in any way as affecting the right of the electors to propose amendments I I to this charter. Section 5.07. Referendum. Prior to the date an ordinance takes effect, it may be subjected to referendum by a petition which shall state at the head of Ieach page, or attached thereto, the exact text of the ordinance to be considered by the voters. If the petition is found to be sufficient under the provisions I of section 5.03. of this chapter, the said ordinance shall thereby be prevented from going into operation, and the subject matter of the petition shall be placed I on the ballot at the next election occuring in the city. If no election is to I occur within 120 days after the filing of the petition, the council shall call pg.5-3/2