Any city which shall have operated for more than four years under the commission plan of government may abandon organization thereunder, and accept the provisions of the general law of the state then applicable to cities of its population, by proceeding as follows: Upon a petition, signed by such number of the qualified electors of such city as equals at least twenty-five percent of the highest vote cast for any of the city council members elected at the last preceding general or regular election in such city, being filed with and found sufficient by the city clerk, a special election shall be called in such city, at which special election the following proposition only shall be submitted: Shall the city of (name of city) abandon its organization under the commission plan of government and become a city under the general laws of the state governing cities of like population? If a majority of the votes cast at any such special election are in favor of such proposition, the officers elected at the next succeeding general city election in such city shall be those then prescribed by the general laws of the state for cities of like population, and upon the qualification of such officers, according to the terms of such general state law, such city shall become a city governed by and under such general state law. If such special election is not held and the result thereof declared at least sixty days before the election date in such city, then such city shall continue to be governed under the commission plan of government until the second general city election occurring after the date of such special election, and at such general city election the officers provided by such general state law for the government of such city shall be elected, and, upon their qualification, the terms of office of the city council members elected under the commission plan of government shall cease and terminate.