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shall be in ruing, signed by the property owner. and state whether the property owner prefers all, a specific one of the alternative combinations, or none of the recommended public improvements. Subd. 2. Preferences counted. Property owners who signed a petition to initiate the public improvements shall be considered to have indicated a preference for all of the public improvements described in the petition, unless they indicate a different preference during the 60 day waiting period. The restrictions on who rnay sign a petition, described in Section 8.04, Subd. 4 above, also apply to determine who may indicate a preference. If multiple owners of a lot or lots indicate different preferences, no preferences shall be counted for that lot or lots. Subd. 3. Utilities in streets. Some utilities typically are installed during street improvements, which usually costs less than constructing the streets and utilities separately. If property owners prefer an alternative which results in a sheet being improved without utilities recommended by staff, then the utilities may not be installed in that street within five years after completion of the street, unless the installation of utilities and any related street repair will be paid for without using any of the City's general revenue. Section 8.08`. City Council. Action. Subdivision 1. Approval of preferred alternative. At the first regular City Council meeting occurring after the 60 -day period ends, the City Council shall approve the alternative which was preferred by the largest number of property owners. If the largest number of property owners indicated a preference that none of the recommended public improvements be constructed, then the City Council shall not approve any of the proposed public improvements. Subd. 2. Second waiting period. If the preferred alternative is to have some or all of the public improvements constructed, then there shall be a period of at least 60 days between the day the City Council approves the preferred alternative and the date of the next City Council action on the proposed public improvements. Taxpayers are given this 60 -day period so that they may petition for a referendum as provided in Section 8.09 below. Section 8.09. Taxpayer Referendum. Subdivision 1. Petition. When a proposed public improvement is to be funded in part through general revenue, the taxpayers of the City may petition for a referendum on the public improvements. Any registered voter may sign the petition for a referendum. To trigger a referendum, the number of valid signatures on the petition must equal or exceed' 12% of the number of votes cast for mayor in the last mayoral election.