Ark. Code Ann. § 14-201-321

In event of a failure of the owners of real estate as provided in this subchapter to create a board of public utilities under the provisions of this subchapter at any election called for that purpose, the failure shall not be held to exhaust their powers to create the board at another election which may be called as provided in this subchapter. No election shall be called to be held within less than two (2) years after holding of the first or subsequent elections.