At least sixty (60) days prior to a general, regular municipal or any special election, Council may declare by resolution, adopted by a vote of two-thirds (2/3) of all the members elected thereto, that the amount of taxes permitted by the Constitution without a vote of the electors will be insufficient to provide an adequate amount for the necessary requirements of the Municipality and it is necessary to levy a tax in excess of such limitation for any municipal purpose or purposes specified in such resolution and permitted by law. Such resolution shall be confined to a single purpose, specify exact amount of additional levy required, the purpose thereof and the number of years, not exceeding five (5) it shall be in effect, which may or may not include a levy on the duplicate for the current year, but no extra levy for any purpose shall be submitted to the electorate more than twice in any calendar year. A majority of those voting thereon in any election will be sufficient for its passage. If passed the Council may immediately make such levy, or such part thereof as it finds necessary.