The City Commission shall, subject to all the limitations of and in the manner prescribed by the general laws of Ohio, have the same power and authority to issue the bonds of the Municipality as is vested by said laws in city councils, except, that in cases of municipal bond issues requiring the approval of the electors of the Municipality, such bonds may and shall be issued and sold if a majority of the voters voting at the election upon the question of issuing such bonds, vote in favor thereof.