Be it further enacted, That the council by ordinance may authorize the issuance of notes in anticipation of taxes to be collected in the same fiscal year in which such notes are issued, not to exceed fifty (50) per cent of the amount of such anticipated taxes. The proceeds thereof shall applied only in payment of current and necessary expenses chargeable to the general fund. All such notes shall be repaid on or before the end of the fiscal year in which they were issued. Such notes shall not be considered as part of the bonded indebtedness of the city.