The local board of any city or town may, on or before the sixtieth (60th) day preceding any election, divide or redivide the city or town, or any representative district in the city or town, into voting districts. The local board of each city or town shall determine voting districts by geographical boundaries and by no other means. No voting district shall at any time comprise parts of two (2) or more wards. It shall be the duty of the board to divide the city or town, representative district, or ward, so that substantially not more than three thousand (3000) total eligible registered voters shall be served by the same polling place; provided, however, that any divisions conducted by the local board pursuant to this section shall not result in creating a polling place serving less than five hundred (500) total eligible registered voters, except when a polling place is located in a low-income or elderly residential development, or when it is caused by legislative district boundaries; and provided, further, that no existing polling place which is presently located in a low-income or elderly residential development shall be eliminated. Upon the establishment and approval of any polling place by the state board, changes to the polling place shall not be allowed until the next redistricting by the general assembly, unless the polling place becomes unavailable to the city or town, or no longer meets polling place minimum requirements as established by the state board, then the city or town may take the appropriate action to replace the polling place. A polling place may be located either within or without the voting district for which it is established; provided, that a polling place may be located outside the district only upon unanimous determination of the local board and subject to the approval of the state board that a suitable place is not available within the voting district.