The election called pursuant to a petition filed under ORS § 545.553 shall be held and the results determined and declared as provided by ORS § 545.511 and 545.513 (1), except that:

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(1) The maximum time in which the bonds may mature shall be submitted to the voters;

(2) The notice of the election need not be posted but must be published at least once, not more than 10 or less than three days prior to the election; and

(3) The form of the proposition on the ballot shall be set forth in the notice of the election. [Formerly 545.232]