Whenever a petition signed by twenty-five percent of the electors, as required in section 71-1638, shall be presented to the city council, county board or village trustees praying for the resubmission of the question of making a levy under sections 71-1637 to 71-1639, it shall be the duty of that body to resubmit the question in the same manner as provided by section 71-1638. If a majority of the votes cast at such election favor the discontinuance of such levy, the same shall be discontinued. If a majority favor its continuance, then it shall be continued for the period which has been approved by the electors at the election.