The question of the adoption of this article shall be submitted to the voters of any municipality by the governing body at any general election or special election held for that purpose, upon the presentation of a petition for its adoption, signed by at least ten per cent of the legal voters, but which shall not be submitted to such an election until at least thirty days after the date of filing the petition. The question of the adoption of this article shall, through action of the governing body, be placed upon a ballot at any general election or be submitted at a special election, in the manner required by law in such cases. If a majority of the legal voters voting at the election adopt this article, it shall take effect immediately, but the organization and establishment of the funds shall not take place until January first following the election.