An Ordinance proposing to the voters in the City of Ballard the issuance and sale of bonds of said city in the sum of $24,500.00, or such lesser sum as shall be sufficient for the funding of such and so many of certain warrants heretofore issued on the part of said city by the corporate authorities thereof drawn payable net of the General Fund, Fire and Water Fund, Salary Fund and Water Front Fund, respectively, of said city and in this ordinance particularly described, as may be valid warrants, outstanding and unpaid at the date in this ordinance prescribed for the issuance of such funds, and providing for the holding of an election at which said voters may vote for or against said proposition.