(a) If a majority of the qualified electors voting on the question submitted under § 15-20-1518 vote for the issuance of State of Arkansas Water, Waste Disposal, and Pollution Abatement Facilities general obligation bonds, the Arkansas Natural Resources Commission shall proceed with the sale and the issuance of the bonds as provided in this subchapter.
(b) If a majority of the qualified electors voting on the question submitted under § 15-20-1518 vote against the issuance of the bonds, the bonds authorized under this subchapter shall not be sold or issued, and this subchapter shall be of no further effect.