Upon resolution adopted by a majority vote of the Board of Supervisors at a regular or special meeting, which resolution shall set forth that the Board of Supervisors determines that the interests of the District require either the undertaking of capital improvements which cannot be financed through the current budget of the District, or the entering into a long-term contract, or upon petition signed by at least five percent of the legal voters of the District, the Board of Supervisors shall take such steps as are required by the provisions of this Agreement and by the laws of the State of Vermont to submit the proposal to the legal voters of the District at an annual or special meeting duly warned for that purpose.