Section 4. Such election shall be held at the place, time and under the same regulations, as provided by law for the holding of municipal elections, and the question to be submitted to the electors shall be in the following form:
Shall the sum of..............dollars heretofore borrowed or authorized to be borrowed by the school district of.................for the purpose of......................be used by the said school district for the purpose of................... ?
The ballot shall be prepared in the manner provided by the general election law for the submission of similar questions.