municipality may aid in the construction and repair of any highway leading thereto by appropriating a portion of the highway tax belonging to said municipality, not exceeding fifty percent thereof annually, as provided in this section. When a petition signed by twenty of the registered electors of said municipality asking that the question of aiding in the construction or repair of any highway leading thereto be submitted to the registered electors thereof is presented to the governing body, the governing body immediately shall give notice of a special election. Said notice shall specify the date of such election, the particular highway proposed to be aided, and the proportion of the highway tax then levied and not expended or next thereafter to be levied to be appropriated. The election shall be conducted in accordance with the provisions of the "Colorado Municipal Election Code of 1965". The question on the ballot or voting machine tabs shall be "Appropriation" or "No appropriation". If a majority of the votes polled are for appropriation, the governing body may aid in the construction and repair of said highway to the extent of the appropriation in the same manner as they otherwise would if said highway were within the municipal limits of said municipality. No part of such highway tax shall be expended more than two miles from the limits of such municipality.
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