Said Village by a majority vote at a meeting legally warned for such purpose is authorized to issue bonds not exceeding $40,000.00 on such terms as said Village shall prescribe for the purpose of paying the debt incurred in purchasing and constructing said electric light system and carrying into effect the foregoing provisions. And in case said Village shall neglect to make reasonable provisions for the payment of the interest and principal of said electric light bonds as the same shall become due, it shall be the duty of the Treasurer of said Village to make out and deliver to the Collector of Taxes of said Village a tax bill on the grand list of said Village, and he or she shall therewith issue to said Collector his or her warrant substantially in form as now provided to be issued for the collection of town or other taxes, directing the collection and payment of said tax to said Treasurer within 60 days from the time of such delivery in the amount sufficient to promptly pay the interest or principal then past due and unpaid; and such tax shall be paid to said Treasurer, and the money so collected shall be held and used for the payment of such interest and principal as is unpaid. And it is hereby made the duty of the Treasurer of said Village to promptly pay the interest and principal of such bonded indebtedness as the same shall become due without any vote thereupon of said Village; and such tax bill shall have all of the force in every respect of a tax bill voted therefor by said Village.