(1) If a majority of those voting in the referendum as provided in KRS 65.170 favor the dissolution of the district, the district shall, upon satisfaction of its legal obligations, be dissolved by order of the fiscal court, any special ad valorem tax imposed by the district shall be removed from the tax rolls by the county clerk and any assets of the district shall be assumed by the county.
(2) If a majority of those voting in the referendum oppose the dissolution of the district, no attempt to dissolve the district pursuant to KRS 65.170 shall be made within five (5) years of the election.