(1) A technical college district may be dissolved or the millage tax voted reduced or repealed, with the exception of the amount of tax required to service any outstanding bonds, upon approval by a majority of the qualified electors of the district voting on the issue at an election called for such purpose by the county boards of election commissioners upon submission of petitions signed by not less than ten percent (10%) of the qualified electors of the district based upon the total number of votes as cast therein for all candidates for the office of Governor in the last general election.
(2) The petitions shall be filed with the Secretary of State, who, within ten (10) days of the receipt and verification by the Secretary of State of the sufficiency of the petitions, shall notify the county boards of election commissioners that an election shall be held at a time not less than thirty (30) days nor more than one hundred eighty (180) days from the date of notification.