(a) If a petition is filed under Section 55.526 of this code, the limitation of the power to incur debt will not take effect unless it is approved at a general or special election held in the district. The election will be held in the manner provided for holding other general and special elections in the district.
(b) The ballots for the election shall be printed to provide for voting for or against the following proposition: “Limiting during the term of ______ years, the maximum debt of the district to 25 percent of the assessed value of the real property.”