Upon presentation of a petition to the board of supervisors or board of commissioners of a township, signed by at least twenty per centum (20%) of the registered electors of such township, requesting that a question be placed on the ballot to determine whether the electorate of such township desire to have one-half of such moneys set apart for the benefit of the public schools and one-half for the benefit of the public roads of the township in lieu of the basis for distribution provided in section 2 of this act,¹ such board of supervisors or board of commissioners shall, by resolution duly adopted, petition the county board of elections of the county in which the township is situated to have such question submitted to the electors of the township. The county board of elections shall cause such question to be placed on the ballots or on the voting machines and submitted to the electors of the township at the first primary or November election occurring at least sixty days thereafter in the manner provided by the election laws of the Commonwealth. If a majority of the persons voting on such question vote “yes,” then one-half of such moneys shall be set apart for public schools and one-half for public roads of such township, but that amount of such money representing the one-fourth increase for the benefit of public roads of such township shall only be expended for highway projects which will be of benefit to public schools. If a majority of the persons voting on the question vote “no,” such moneys shall continue to be set apart on the basis provided in section 2 of this act. The same question shall not be voted upon again prior to an election occurring at least five years thereafter.