When a demand is made upon the district for the payment of an execution issued against it and the district has no available funds to pay the same, the board of water commissioners shall compute the share of each member town in such execution, with costs, interest, and other charges, to be paid by it in accordance with the agreement among the member towns or the formula established in section 3349 of this title, and shall give notice of the amount thereof to the legislative branch of each member town. Such member town through its proper officer shall forthwith pay to the treasurer of the district its share of such execution and any charges. If the member town has insufficient funds to pay its said share, its legislative branch shall forthwith assess and have collected a tax sufficient to pay the same in the manner its other taxes are assessed and collected. (1964, No. 20 (Sp. Sess.), § 10, eff. March 10, 1964.)