There is hereby established a general sinking fund to amortize and redeem any or all of the sinking fund bonds issued and sold from time to time by the city of New York on or after July first, nineteen hundred eighty-one for any purpose for which sinking fund bonds may be authorized, excepting sinking fund bonds which are redeemable from the sinking fund of the city of New York, the water sinking fund of the city of New York, the rapid transit sinking fund of the city of New York, or any additional sinking fund established pursuant to section two hundred ninety-eight.