Whenever interim notes are issued pursuant to the provisions of the basic water agreement, the rates charged by the city for water used shall be sufficient to provide, at the maturity date of such notes, revenues from the operation of the water system in an amount and at the times which will permit the authorization and issuance of water revenue bonds on a parity with the water revenue bonds then outstanding under this chapter in order to provide permanent financing for the projects authorized in and identified by the interim note or notes or will provide revenues sufficient to produce moneys legally available in the water fund of the city to pay the principal of and interest on such interim notes as the principal and interest become due.
(Prior code § 7-78)