A library district established pursuant to KRS 173.470 which has been in existence for at least three (3) years may be dissolved in the following manner:
(1) Upon filing of a duly-certified petition of ten percent (10%) or more of the qualified voters in the district or one hundred (100) or more qualified voters in the district, whichever is more, the fiscal court of each county in the district shall adopt a resolution submitting to the qualified voters of the district the question as to whether the district shall be dissolved. A certified copy of the order of each fiscal court shall be filed with the county clerk not later than the second Tuesday in August prior to the next regular election and thereupon the clerk shall cause the question to be placed before the voters;
(2) The question shall be in substantially the following form: "Are you in favor of dissolving the (insert name of district) Public Library District?"; and (3) If a majority of those voting on the question within the district favor the dissolution such district shall thereupon be dissolved.