That interim note financing agreement (each of which are herein referred to as "basic agreement") providing for the temporary borrowing of funds in advance of permanent financing to permit the interim financing of estimated cost and expenses and incident to the making of public improvements in and for the city be negotiated by the City of Chicago acting by and through its mayor and city comptroller, the form of such basic agreement to be hereafter presented to the city council for its approval and authorization to execute the same on behalf of the city.
(Prior code § 7-80)