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-l2- within 90 days of the 2nd public hearing. No action of City Council requiring a public hearing shall become effective until such time as it has been passed on 3rd and final reading within 90 days of the most recent public hearing on the issue. All ordinances shall be read in open meeting of the council on three (3) several days, provided that the readings required herein shall be sufficient if they are read by descriptive caption only if the proposed ordinance is posted, available at a readily ac- cessible location and filed with the city secretary within seventy- two (72) hours prior to the public meeting at which it is to be considered; provided further, that the rule herein described re- quiring ordinances to be read on three ( 3) several days be dispensed with for the purpose of adopting emergency ordinances, which shall upon consent of five (5) council members be adopted. Unless other- wise provided by law or by this charter, no ordinance shall be- come effective until the expiration of ten (10) days following the date of its final passage, except where an ordinance relating to the immediate preservation of the public peace, health or safety, is adopted as an emergency measure by the favorable votes of five (5) or more of the council members and contains a statement of the nature of the emergency. Sec. 7.06. Powers and Duties of the Planning Commission. Planning Commission shall have the power and be required to: 1. Submit recommendations and observations to the City Council on all proposals including a determination of: a. Compliance with the Master Plan and b. Environmental Impact Statements; 2. Hold an annual Public Hearing to review the Master Plan; 3. Submit annually to the City Council and the Zoning Commission not less than one hundred twenty (120) days prior to the beginning of the fiscal year, a list of recommended changes, if any, in the Master Plan; 4. Review all plans for platting and subdividing of land within the City and within adjacent areas as permitted by law; 5. Hold an annual Public Hearing to review the Subdivision Ordinance; 6. Submit annually to the City Council not less than one hundred twenty days (120) days prior to the beginning of the fiscal year, a list of recommended capital improvements found necessary or desirable, and, 7. Request, respond and receive from the Zoning Commission any recommendations or determinations on any proposal.