(1) In case the ordinance of approval is passed by the governing body less than one hundred twenty days and more than thirty days prior to the regular election in such city or town, the submission to the electors shall be at such regular election; otherwise, the governing body, in the ordinance of approval, shall order a special election, to be held not less than thirty days nor more than forty days after that date for the purpose of determining the question of such consolidation. Such election shall be conducted in accordance with the provisions of the "Colorado Municipal Election Code of 1965".

(2) The mayor or, in case there is no mayor, the presiding officer of the governing body shall cause notice of the election to be given, which notice shall be given in the manner prescribed by the "Colorado Municipal Election Code of 1965".

(3) The form of the ballots or voting machine tabs at such election shall be: "For Consolidation" and "Against Consolidation". If a majority of the votes cast at such election in each of the cities or towns proposed to be consolidated are for consolidation, the proposition shall be carried. If a majority of the votes cast at such election in any of the cities or towns proposed to be consolidated are against consolidation, the proposition shall be defeated, and such question shall not be submitted again for one year.

(4) If any one or more of the cities or towns proposed to be consolidated was a city, the consolidated corporation shall be a city.