Whenever there is not a sufficient amount of cash in the local improvement guarantee fund at any time to pay any and all warrants, together with interest thereon, drawn against such fund, the city council may replenish the local improvement guarantee fund by transferring or appropriating to it, monies from the general fund of the city, or other available sources as may be determined by the city council subject, however, to the limitations prescribed in this chapter. Warrants drawing interest as provided in this chapter may be issued against the local improvement guarantee fund to meet any financial inability against it; but, at the time of making its next annual tax levy the city shall provide for the levy of a sum sufficient with other resources of the guarantee fund, to pay warrants so issued and outstanding, the tax for this purpose not to exceed one mill in any one year. (Prior code §12-7)