(a) If a majority of the votes in an election under this subchapter favor dissolution, the board shall find that the district is dissolved.
(b) If a majority of the votes in the election do not favor dissolution, the board shall continue to administer the district and another election on the question of dissolution may not be held before:
(1) the fourth anniversary of the date of the most recent election to dissolve the district if the board called the election under Section 1063.301(a); or
(2) the third anniversary of the date of the most recent election to dissolve the district if the board called the election under Section 1063.301(b).