This chapter shall not prevent the Department of Education from approving school construction requests submitted by districts when such requests vary from the standard formula; provided, however, that when the costs of the facilities so approved exceed the costs determined by the standard formula, the voters in the districts so affected may authorize and limit by referendum the expenditure of funds to the amount based on the standard formula, such referendum to be held in accordance with Chapter 21 of this title. The election may be conducted by the use of printed paper ballots or by the use of voting machines. Provisions shall be made for the following form to appear on the printed paper ballots next to squares added for convenience in marking and on the voting machine:
Section I — Vote for one
A. For a bond issue at this time
B. Against a bond issue at this time
Section II — Vote for one
In the event that the majority of votes cast in Section I is for a bond issue, which bond issue would you prefer?
A. For the bond issue in the amount of $________ as recommended by the school board.
B. For the bond issue in the amount of $________ as determined from the standard formula by the Department of Education.
The amounts of the proposed bond issues shall be inserted in the appropriate spaces on the ballot. Section I of the ballot shall be counted first. If the majority is for issuance of a bond (Section I) then Section II shall be counted and in no case shall the bond issue recommended by the school board be authorized with less than a majority of the total ballots validated for count; the lack of which majority will constitute a positive bond issue authorization by the standard formula of the Department of Education.