(1) If a board determines that it is necessary for the proper management and operation of the community college area to expend tax funds in a manner requiring a vote of the people, the board may by resolution place the proposition for such expenditure on the general or primary ballot or call for a special election in such area for the purpose of approving such expenditure. The proposition appearing on the ballot in any election shall state the purpose for which such tax funds will be spent and the amount of funds to be so expended. Such proposition shall be adopted if approved by a majority of those voting in such election.
(2) The resolution calling for the election and the election notice shall show the proposed purpose for which such tax funds will be expended and the amount of money sought.
(3) Notice of the election shall state the date of the election and the hours the polls will be open. Such notice shall be published in a newspaper that is published in or of general circulation in such community college area at least twenty days prior to such election. If no newspaper is published in or of general circulation in the community college area, notice shall be posted at least twenty days prior to such election in at least two public places in each county in the community college area.
(4) If a special election is called, the board shall prescribe the form of the ballot to be used.