Upon a petition or petitions in writing, signed by fifty-one percent of the qualified electors residing in each particular territory sought to be created into a new county, or transferred to another county, such percent to be determined by the total vote cast in said territory for the head of the state ticket in the next preceding election, and it being made to appear that said petitioners are qualified electors of said territory and are fifty-one percent of each particular territory thereof, and it being made to appear that if a new county is to be formed, that same will consist of not less than five hundred (500) square miles of taxable area and will contain a population of not less than twenty thousand (20,000) people and will have not less than Four Million Dollars ($4,000,000.00) of taxable wealth as shown by the current tax rolls; that if the change or changes sought to be made are for the purpose of creating a new county it will not bring the newly created lines of such existing county or counties from which said territory is taken nearer than twenty (20) miles to the county seat thereof; that if the change or changes sought to be made for the purpose of transferring territory from an existing county or counties to another county, it will not bring the newly created lines in such existing county or counties from which any territory is taken nearer than fifteen miles to the county seat thereof; that the taxable wealth of such existing county or counties will not be reduced below that required for a new county, and if the object sought is to transfer territory from one county to an existing county, it shall be made to appear that the county from which said territory is sought to be taken, will not be less in area than the county to which the addition is made, and such petition and such showing have been filed with and made before the Governor, shall within thirty (30) days issue his proclamation, calling an election to be held in said territory not less than sixty (60) nor more than seventy (70) days from the date of his proclamation. That nothing in this bill shall apply to counties now existing containing eighteen hundred (1,800) square miles in area, which counties shall be governed by the Constitutional limitations.