The Village, acting by its President and Board of Trustees, may from time to time borrow money for proper public purposes and in evidence of such borrowing issue its full faith and credit bonds (general obligation) payable from ad valorem taxes to be levied without limitation as to rate or amount against all taxable property situated within the Village. Such bonds may be issued without the submission of the question of their issuance to the electors of the Village for their approval, and the procedures for the issuance of such bonds shall be substantially as herein provided.