When authorized by a majority of all the voters voting at a regular or special meeting of the Village, the Village may issue and sell its negotiable bonds to an amount not exceeding the amount authorized by the meeting for the purpose of purchasing, constructing, establishing, maintaining, and operating an electric plant, electric transmission and distribution lines, and a gas plant and pipe lines, or for any or all of such purposes, or for additions thereto or any part thereof, as may be necessary from time to time. The warning calling the meeting shall state the object and purpose for which the indebtedness is proposed to be incurred, the estimated cost of the improvements, the amount of bonds proposed to be issued therefor, and the maximum rate of interest to be paid, and shall fix the place where and the date on which such meeting shall be held. The vote shall be by ballot. (Added 1935, No. 247, § 2.)