(a) A nonbinding referendum held by the municipality as a result of a petition by the voters of the municipality must be held on the same date of an election called by the governing body of the municipality on another question or for the election of one or more municipal officers.
(b) The referendum may be held on a date other than one described by Subsection (a) if:
(1) one or more of the persons signing the petition agrees in a writing filed with the governing body of the municipality to pay, before the 60th day after the date of the referendum, all costs incurred by the municipality in holding the referendum; and
(2) the persons agreeing to pay the costs execute a bond complying with Subsection (c).

(c) The bond must be:
(1) payable to, approved by, and filed with the governing body of the municipality;
(2) executed with a corporate surety authorized to do business in this state;
(3) in an amount the governing body estimates is necessary to cover the costs the municipality will incur in holding the referendum; and
(4) conditioned that the persons executing the bond will pay, before the 60th day after the date of the referendum, all costs incurred by the municipality in holding the referendum.
(d) This section does not apply to a referendum that is expressly authorized by the state constitution or a statute.