(a) When fifty (50) or more owners of real property in any improvement district or districts in any city of the second class or incorporated town in this state shall desire that the provisions of this subchapter be made applicable to the electric lights plants, water plants, and sewerage systems or to the electric light plant, water plant or sewerage system in the city or town, they shall file with the county board of election commissioners in the county in which the city or town lies, a petition signed by them praying that board of election commissioners call an election in the improvement district or districts to determine whether the provisions of this subchapter shall be made applicable to the light plant, water plant, or sewage system or the light plants, water plants, and sewage systems of the district or districts.
(b) The signers of the petition shall all be residents of the area embraced in one (1) or more of the improvement districts to be affected, but it shall not be necessary that they own real property in the district in which they reside, it being sufficient if they own real property in at least one (1) of the districts to be affected.