The township board of Elk township in Osage county is hereby authorized and empowered to purchase fire-fighting equipment for use in said township and to provide for the housing of the same, and to issue tax warrants in an amount not exceeding seventy-five hundred dollars ($7,500) for the purpose of raising funds to pay the cost thereof: Provided, That no such purchase shall be made or warrants issued until and unless a petition requesting such action is presented to the township board and signed by not less than fifty-one percent (51%) of the qualified electors of such township as determined by the vote for secretary of state at the last preceding election. Warrants shall bear interest at the rate of not more than the maximum rate of interest prescribed by Kan. Stat. Ann. § 10-1009 from date of issuance. The township board shall levy a tax sufficient to retire and pay said warrants and the interest thereon within not to exceed three (3) years after their issuance.