If a petition calling for a referendum on the question of whether the Agency should be dissolved is signed by at least 5% of the registered voters of the territory of the Agency and is filed with and certified by the State Board of Elections, a referendum on the question shall be submitted to the voters of the member counties. The proposition shall be placed on a ballot in substantially the following form:
     “Shall the Agency be dissolved?”
     If a majority of the voters on the proposition are in favor thereof, the Agency shall be dissolved.