In addition to the undertaking and agreement required by Section 3.04.040 in any proceedings hereafter had for the sale of any special improvement district bonds or warrants, the town council may further undertake and agree to provide funds for the special improvement district revolving fund by making an annual tax levy, as provided by subsection A of Sections 3.04.020, in any agreed amount up to the maximum limitation provided in Section 3.04.020. In lieu of such undertaking and agreement for an annual tax levy, the city council may undertake and agree to loan and transfer annually from the general fund to the special improvement district revolving fund such agreed amount, as provided by subsection B of Section 3.04.020, and subject to the same maximum limitation. (Ord. 187 § 5, 1953)