The council shall then, by ordinance, submit the proposition to erect the waterworks system as provided in the contract, ordinance and other proceedings, and to pay for same by bonds issued as aforesaid, to the voters of the city, as provided in section 91.120. The proposition to be submitted at the election shall be:

To erect a waterworks plant and issue bonds in payment therefor, which shall be a first lien on the waterworks plant when erected, but no general or personal obligation of the city—YES.

To erect a waterworks plant and issue bonds in payment therefor, which shall be a first lien on the waterworks plant when erected, but no general or personal obligation of the city—NO.

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And if a majority of the voters of the city voting on the proposition shall vote “YES”, then the contract shall be binding and in full force and effect, and the waterworks system shall be erected in accordance therewith, and when erected and accepted by the city, bonds shall be issued in payment therefor to the contractor under the terms of the contract as provided for in sections 91.090 to 91.300, and the title to the waterworks system, after it is erected, shall pass to and vest in the city subject to the payment of the bonds issued in payment of the contract price for erecting same.