(1) The voters of each participating district shall be warned to meet at an annual or special school district meeting to vote on a question in substantially the following form: "Shall the school district of ................................ appropriate funds necessary to support the district's financial share of a study to determine the advisability of forming a union school district with some or all of the following school districts: ................................ ? It is estimated that the district's share, if all the above-listed districts vote to participate, will be $......................................... The total proposed budget, to be shared by all participating districts, is $..........." It is not necessary for the voters of each participating district to vote on the same date to establish a union school district study committee.

(2) If the vote is in the affirmative in two or more districts, the boards of the participating districts shall appoint a study committee consisting of the number of persons previously fixed. At least one school director from each participating district shall be on the committee. A district board may appoint residents to the committee who are not school directors.

(3) The sums expended for study purposes under this section shall be considered a part of the approved cost of any project in which the district participates pursuant to sections 3447 through 3449 of this title.