(a) Immediately upon the organization of the commission, or as soon thereafter as it is convenient, it shall give public notice of the passage of this chapter and of the commission's organization and the purposes of this chapter, and that the public improvement contemplated in this chapter is conditioned upon its approval by a majority in value of the owners of real estate within the district or a majority of the electors voting in a special election that may be held upon this chapter.
(b) This chapter may be submitted in either or both of the following modes to determine whether it shall become operative:
(1)
(A) If at any time within five (5) years from the passage of this chapter a petition purporting to be signed by a majority in value of the owners of real property within the district is filed with the commission, the commission shall give public notice of that fact in at least one (1) daily newspaper published in the county and set a day and place for the hearing not less than twenty (20) days after the first publication of the notice.
(B) At the place and time so designated, the commissioners shall examine the petition filed and examine the assessment of the real property within the district and, for the purpose of the hearing, may adjourn from day to day from time to time until the hearing is completed.
(C) At the hearing, any landowner in the district may be heard and evidence may be taken in such a manner as the commission may deem proper to determine the fact as to whether the petition is signed by a majority in value of the landowners of the district, as shown by the last county assessment of the lands within the district.
(D)
(i)
(a) If at the hearing the commissioners find that the petition is not signed by a majority in value of the landowners of the district, as shown by the last county assessment, they shall so declare. Such findings shall terminate proceedings under this chapter unless within the term herein limited another petition purporting to be signed by a majority in value of owners of real estate in the district is filed with the commission, when like proceedings shall again be had to determine whether a majority in value of the landowners of the district have signed the petition.
(b) However, the finding that a majority in value has not petitioned for the improvement shall not bar the chapter from becoming effective as provided in subdivision (b)(2) of this section and subsection (c) of this section.
(ii) If the commission finds that the petition is signed by a majority in value of the landowners of the district as shown by the last county assessment, the commission shall so declare and shall proceed to carry out the purposes of this chapter.
(iii) In either event, public notice shall be given in at least one (1) daily paper published in the county of that fact, and a copy of the findings shall be filed with the county court of the county;
(2)
(A) The commission may call at any time within five (5) years an election in accordance with § 7-11-201 et seq. to determine whether this chapter shall become operative and may call subsequent elections in accordance with § 7-11-201 et seq. after the chapter has failed to carry if the commission has good reasons to believe that a majority of the electors then favor this chapter.
(B) The election held under this section shall be held conformable as nearly as possible to the laws of the state governing general elections.
(C) The commission shall perform the duties of county election commissioners as nearly as applicable.
(D) All citizens of the city in which the district is located who possess a right to vote if the election were a general election for state officers, and no other, shall be entitled to vote in the election.
(E) The commission shall canvass the votes cast at the special elections. If the commission finds that a majority of the votes cast in the election were in favor of this chapter's becoming operative, the commission shall so declare and shall proceed to carry out the purposes of this chapter.
(F) Public notice shall be given of the commission's findings in either event in at least one (1) daily newspaper published in the county in which the district is located, and a copy of the commission's findings shall be filed with the county clerk of such a county.
(c) It is the intent of this section to permit this chapter to become operative if it is approved at any time within five (5) years in either of the foregoing methods and not to become operative unless approved within this period by one (1) or the other of the methods provided in this section.