§ 7.01. POWER OF INITIATIVE:

  The voters shall have power to propose any ordinance except an ordinance appropriating money or authorizing the levy of taxes, and to adopt or reject the same at the polls, such power being known as the initiative. Any initiative ordinance may be submitted to the Council by a petition signed by currently qualified voters of the City equal in number to at least twenty (20) percent of the total number of votes cast at the last general city election, or 250, whichever is the greater.