Any five qualified voters may commence initiative or referendum
proceedings by filing with the Clerk an affidavit stating they will
constitute the petitioners' committee and be responsible for circulating
the petition and filing it in proper form, stating their names and
addresses and specifying the mailing address to which all notices
to the committee are to be sent, and setting out in full the proposed
initiative ordinance or resolution or citing the ordinance sought
to be reconsidered. Promptly after the affidavit of the petitioners'
committee is filed, the Clerk shall issue the appropriate petition
blanks to the petitioners' committee.
When a referendum petition is filed with the Town Clerk, the
ordinance to be reconsidered shall be suspended from taking effect.
Such suspension shall terminate when:
A. There
is a final determination of insufficiency of the petition; or
B. The
petitioners' committee withdraws the petition; or
C. The Council repeals the ordinance.