1. (1) When the board of directors of an irrigation district has determined by resolution that it is for the best interests of its inhabitants that it exercise any of the powers mentioned in ORS 545.257, including the refunding of outstanding bonds, the board shall, by resolution, specify the particular powers it proposes to exercise and order an election to be conducted. Upon the order being entered, an election shall be held by the qualified electors of the district to determine:

   1. (a) Whether or not bonds in any amount designated by the board in such order shall be issued for any purpose necessary or convenient in carrying out this section and ORS 545.257, 545.301 and 545.303; and
   2. (b) Whether or not the board shall proceed to exercise the powers, or any of them, specified in the resolution.
2. (2) Notice of the election shall be given in the manner provided in ORS 545.511, and that section shall apply to all subsequent proceedings under this section and ORS 545.257, 545.301 and 545.303.

[Formerly 545.116]