It is the duty of the county legislative body, or governing body of such city or town, as the case may be, to convene on the call of its presiding officer, for the purpose of acting on the return of the county election commission, within ten (10) days after such election; and if it appears that the same was, in all respects, fair, and that three-fourths (3/4) of the legal votes cast at such election were in favor of subscription, then it shall have full power, and shall proceed, to make and execute all necessary orders, and take such action as may be required to make the subscription effective according to the terms thereof and these provisions.