(a) General rule.--If, in any borough divided into wards, the council consists of more than seven members, at least 5% of the registered electors of the borough shall have the power to petition council for a decrease in the number of members of council from each ward, except that the council may not consist of less than seven members. The purpose of the decrease may be to achieve any of the following results:

(1) A council which is less unwieldy in size.

(2) A council which is comparable in size to those in boroughs not divided into wards.

(3) A council consisting of an odd number of members instead of an even number.

(4) A reduction in borough expenditures.

(5) The expedition of the conduct of council meetings.

(b) Petitions.--A petition under subsection (a) shall clearly state whether the petitioners request that the number of members of the council to be elected in each ward shall be reduced from two to one, or from three to two or one, and the reasons why the reduction in number is desired. The petition may state whether it is necessary to add a council member or members to be elected at large in order to achieve or maintain a council consisting of at least seven members or to achieve or maintain a council consisting of an odd number of members. The sufficiency of the number of signers to the petition shall be ascertained as of the date the petition is presented to council.

(c) Notice.--The council shall give notice of the filing of the petition by advertisement in the legal newspaper of the county, if one is published in the county, and in one newspaper of general circulation, and of a day and time for a public meeting. After the public meeting, council may, by ordinance, decrease the number of council members elected from each ward from two to one, or from three to two or one, and may also provide for the election at large of a member or members of council.

(d) Terms.--Council shall, if necessary, establish a schedule for the subsequent at-large election of council members. The schedule may provide that the initial term of one or more of the council members subsequently elected at large shall be reduced to accommodate a schedule of staggered at-large elections to eventually ensure that, as nearly as possible, one-half of the members of council elected at large will be elected at each municipal election. The following shall apply:

(1) At each municipal election in the borough, if there are two members from each ward, the electors of each ward shall elect one council member to hold office for a term of four years from the first Monday of January succeeding the election.

(2) At each municipal election in the borough, if there is one member from each ward, the electors from each of the odd-numbered wards shall, at the first municipal election, elect one council member for a term of four years, and the electors from each of the even-numbered wards shall elect one council member for a term of two years. At each succeeding municipal election, the electors of the even-numbered wards or odd-numbered wards shall each elect one council member for a term of four years to take the place of those whose terms are about to expire. The council members shall take office on the first Monday of January following their election.

(e) Reduction.--In a borough where, under this section, the number of council members shall be reduced, the council members then in office shall remain in office until the end of their respective terms.