If the city council submits the proposed levy of assessments to an election, the election shall be held not less than ninety days nor more than one hundred eighty days after the adoption of the resolution calling the election. The qualified electors shall be those registered to vote within the territory subject to assessment, except that, if fewer than twelve persons were registered to vote within the territory on the day thirty days before adoption of the resolution calling the election, the qualified electors shall be the owners of land within the territory, each owner having one vote for each acre or portion of an acre owned within the territory. The assessment proceedings shall be abandoned unless a majority of votes cast is in favor of the levy of the assessments. (Ord. 1946 NCS §1 (part), 1993.)