(1) The board shall supervise the referendum, prescribe appropriate regulations governing the conduct of the referendum and publish the result of the referendum. Only owners of lands within the district may vote in the referendum.
(2) No informalities in the conduct of the referendum or in any matters relating to the referendum shall invalidate the referendum or its result if notice of the referendum shall have been given substantially as provided in KRS 262.370 and the referendum has been fairly conducted.