(1) The authority of a city to establish a good life district economic development program and to appropriate local sources of revenue to such program is subject to approval by a vote of a majority of the registered voters of the city voting upon the question.

(2) The question may be submitted to the voters at a special election or such question may be voted on at an election held in conjunction with the statewide primary or statewide general election. The question may be submitted to the voters before or after any application is submitted to establish a good life district pursuant to the Good Life Transformational Projects Act.

(3) A city shall order submission of the question to the registered voters by resolution. The resolution shall contain the entire wording of the ballot question, which shall state the question as follows: "Shall the [city or village] of [name of the city or village] be authorized to establish a good life district economic development program for any area within the [city or village] which is included in a good life district established pursuant to the Good Life Transformational Projects Act, and shall the [city or village] be authorized to appropriate the local sources of revenue collected within such good life district program area, which may include local option sales and use taxes and occupation taxes, established pursuant to and as permitted by the Good Life District Economic Development Act?"

(4) The city shall file a copy of the resolution calling the election with the election commissioner or county clerk not later than the eighth Friday prior to a special election or a municipal primary or general election which is not held at the statewide primary or general election, or not later than March 1 prior to a statewide primary election or September 1 prior to a statewide general election. The election shall be conducted in accordance with the Election Act.

(5) If a majority of those voting on the issue vote in favor of the question, the governing body may establish and implement a good life district economic development program upon the terms contained in the Good Life District Economic Development Act. If a majority of those voting on the issue vote against the question, the governing body shall not establish or implement any good life district economic development program. When the question of establishing a good life district economic development program is defeated at an election, resubmission of the question and an election on the question shall not be held until at least five months have passed from and after the date of such election.