A. Whenever a petition signed by not less than two hundred qualified electors of any county in this state is presented to the board of county commissioners asking that a vote be taken on the question or proposition of building, remodeling or making additions to necessary public buildings or necessary public projects, setting forth in general terms the object of the petition and the amount of bonds asked to be voted for, the board of county commissioners of the county to which the petition is presented shall, within ten days after the presentation, call an election to be held within sixty days thereafter in the county. Except as provided in N.M. Stat. Ann. Chapter 4, Article 49, such elections shall be held and conducted pursuant to the provisions of the Local Election Act [N.M. Stat. Ann. Chapter 1, Article 22].

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B. After the defeat of any proposition once voted for, a second special election upon any question or proposition under the provisions of N.M. Stat. Ann. Chapter 4, Article 49 shall not be held for a term of two years unless a petition requesting another election, containing the names of qualified electors of the county equal to ten percent of the votes cast for governor in the last preceding election and otherwise conforming to the requirements of this section, is presented to the board of county commissioners;

provided, however, that in no event shall more than two elections upon any proposition or question under N.M. Stat. Ann. Chapter 4, Article 49 be held in any term of two years. A bond election as provided in this section may also be called by the board of county commissioners, without any petition, after the board has adopted a resolution calling such an election, which resolution shall set forth the object of the election and the amount of bonds to be issued.