(1) Any provision of this article to the contrary notwithstanding, the territory of one county may be stricken off and annexed to an adjoining county, whether such territory is contiguous to such adjoining county or not, for the purpose of building and operating a major air carrier airport if the annexing county has a population of more than four hundred thousand and the boards of county commissioners of the two counties enter into an agreement for such annexation and the annexation agreement is subsequently ratified pursuant to the provisions of this section. (2) Any such annexation agreement shall include, at a minimum: (a) A description of the boundaries of the territory to be stricken off and annexed; (b) A provision for the reversion of such territory to the county from which it is to be stricken off if the purposes of the annexation are not achieved; (c) A provision that any consideration paid by the annexing county go to or for the benefit of the county and any school district from which the annexed territory is to be stricken off; and (d) A provision designating either the next general election or a special election on a date certain as the ratification election for the proposed annexation agreement. (3) In order to enter into such an agreement for the striking off and annexation of territory, each board of county commissioners shall be required to approve the agreement by a majority vote at a regular board meeting after not less than seven days' notice to the public and the opportunity for oral and written public comment on the agreement. Such notice shall be published in at least one newspaper of general circulation in the county or counties involved. (4) After approval of the annexation agreement pursuant to subsection (3) of this section, the board of county commissioners of the county from which the territory is proposed to be stricken off shall submit such proposed annexation agreement to the registered electors of such county, pursuant to section 3 of article XIV of the state constitution, at the next general election or at a special election. Such election shall be governed by the provisions of the "Uniform Election Code of 1992", articles 1 to 13 of title 1, C.R.S., and shall be paid for by the county in which it is held. (5) Failure of the registered electors to ratify the annexation agreement by majority vote shall defeat the proposed annexation, and the territory shall not be stricken off. The agreement shall be null and void.
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