Sec. 7. P&SL 1967, c. 58, §4, as repealed and replaced by P&SL 1967, c. 211, §2, is repealed and the following enacted in its place:

*Sec. 4.__Referendum on bond issues.__In the event the board of directors authorizes the issue of any bonds, the board of directors shall promptly file an attested copy of the vote with the municipal officers of each of the towns within the district.__The board of directors shall also ensure that an attested copy of the vote is published in a newspaper generally circulated in the district, no later than 10 days following the day on which the board of directors adopted its vote.__In each case, the board of directors shall ensure that the attested copy of the vote is distributed and published, together with a statement explaining the district's referendum procedures for bond issues.

The statement must specify that the board of directors' vote will become effective on its terms unless, before the expiration of 7 days from the date on which an attested copy of the vote was first published, the president or the secretary of the board of directors receives a petition signed by at least 10% of the residents in the district eligible to vote requesting that the vote not take effect.__The petition must request the board of directors to submit to the voters of the district the question of whether bonds should be issued by the district.__Eligibility to vote must be measured as of the date on which the board of directors adopted its vote.__The statement must also state the name and address of the president and secretary of the board of directors.

A vote of the board of directors authorizing an issuance of the bonds under this Act does not become effective before the expiration of 7 days from the date upon which the vote and statement are first published.__If, within that period, a petition signed by at least 10% of the residents in the district eligible to vote is filed with the president or the secretary of the board of directors requesting the board of directors to submit to the voters of the district the question of whether such bonds should be issued by the district, the board of directors' vote must be further suspended from becoming effective and the board of directors shall immediately reconsider that vote.__If, upon reconsideration, the board does not rescind its vote then, within 60 days of receipt of the petition, the board of directors shall submit to the voters of the district at a special district meeting the question of whether such bonds must be issued.