Implementing a multivibrator function with python

[JL]

I am trying to implement a multivibrator function with python. This is how it works; 

- An trigger event happens
- Upon receiving the event, a variable goes high for 5secs, then go low.
- If the event happens again before the 5secs expire, the high duration will be extended by another 5 secs. This works like a retriggerable multivibrator for those who are into electronics. 

Is there some sample code for this problem or can someone point me to using the right library for this feature?

Thank you very much.