a proposition to restrict the number of alderpersons to one-half of the total authorized by Section 5-2-2, with one alderperson representing each ward, shall be certified by the municipal clerk to the proper election authority who shall submit the proposition at an election in accordance with the general election law, if a petition requesting such action is signed by electors of the municipality numbering not less than 10% of the total vote cast at the last election for mayor or president of the board of trustees of the municipality, and is filed with the city or village clerk in accordance with the general election law. The proposition shall be substantially in the following form: - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Shall the City (or Village) of ........ restrict the number of YES alderpersons to one-half of the total authorized by Section 5-2-2 of the - - - - - - - - - - - - - - - - - - - - - - - - - - Illinois Municipal Code, with one NO alderperson representing each ward? - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - If a majority of those voting upon the proposition vote in favor of it, all existing terms of alderpersons shall expire as of the date of the next regular election of alderpersons, at which time a full complement of alderpersons shall be elected for the full term.
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