Registered voters of the municipality shall vote by ballot "yes" or "no" on the question of dissolution of the municipality. The election shall be conducted in accordance with applicable election laws. If a majority of the votes are in favor of dissolution, and the votes have been cast by at least two-fifths of the registered voters of the municipality (as shown by the preceding general election), a statement of the vote signed by the mayor, and attested by the clerk, shall be filed in the office of the county clerk in the county in which the situs of the municipality is located and in the office of the Secretary of State. At the expiration of six (6) months from the date of the election on the question, the municipality shall cease to be a corporation.
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