The question of whether a town is to be separated for all purposes from a statutory city within the town may be voted on at the town's annual meeting. This section must be followed for the separation to take place. At least 50 of the town's electors must sign a notice stating that the question will be voted on at the next annual meeting. The signers may reside within or outside the city. The notice must be filed with the town clerk. The clerk shall include the question in the notice of the meeting. The question must then be voted on by ballot. If a majority of the votes on the question are in favor of the separation, the town is separated from the statutory city for all purposes. Only voters residing outside the statutory city may vote on the question.