1. No such city, town or village or sewer district shall issue or deliver any bonds for the purpose of acquiring, constructing, improving or extending any such sewerage system or combined waterworks and sewerage system payable from the revenues to be derived from the operation of any such system unless a proposition to issue such bonds shall have received the assent of a majority of the voters of such city, town or village or the assent of four-sevenths of the voters of the sewer district, who shall vote on the question.

2. The question shall be submitted in substantially the following form:

Shall ______ (name of city, town, village, or district) issue revenue bonds in the amount of ______ dollars?