A. There is reserved to the qualified electors of the town the power of initiative and the referendum as prescribed by the state constitution, Arizona Revised Statutes and this code.
B. Any proper initiative matter shall be voted on by all qualified electors at the next ensuing town primary or general election pursuant to subsection A of Section 2-6-3.
C. That upon presentation of a certificate to the council by the town clerk that all steps required by the constitution and the state statutes concerning referendum have been complied with, the council may call a special election on the matter referred no less than ninety days and no more than one hundred fifty days from the presentation of the certificate by the clerk; provided that within that period of time there is no regularly scheduled town primary or general election for which the referendum matters would otherwise qualify.
D. The call of a special election for referendum matters shall be valid only upon the affirmative vote of four members of the council voting on said request and call. Should the required number of votes to call the special election not be obtained then the referendum matter shall appear on the ballot at the next regular town primary or general election.
E. If a special election on a referendum matter is called for by the council pursuant to subsection D of this section, then in addition to all other notices required by law, the clerk shall notify the person or organization that requested the referendum petition of the council decision by first class mail, postage prepaid at the address shown upon the request for referendum petition number.