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collected, at the same time and in the same manner as other taxes of the City are assessed, levied and collected, a tax upon all taxable property within the City, over and above all other taxes, authorized or limited by law and without limitation as to rate or amount, sufficient to pay when due the principal of and premium, if any, and interest on the Bonds, if the revenues of the water and sewer system are insufficient for that purpose. The Bonds are to be issued pursuant to Article VII, Section 10 (a) (2) of the Constitution of Virginia, 1971, and are not to be included in determining the power of the City to incur indebtedness within the limitation prescribed by Article VII, Section 10 (a) of the Constitution of Virginia, 1971, but from and after five (5) years from and after the date of the election on the question of the issuance of the Bonds, whenever and for so long as such revenue-producing undertaking fails to produce sufficient revenue to pay for cost of operation and administration (including interest on the bonds issued therefor) and the cost of insurance against loss by injury to persons or property, and an annual amount to be placed into a sinking fund sufficient to pay, at or before maturity, all bo~ds issued on account of such undertaking, all outstanding bonds issued on account of such revenue-producing undertaking shall be included in determining the limitation of the power of the City to incur indebtedness. SECTION 2. In anticipation of the issuance of the Bonds and the receipt of the proceeds thereof, there are hereby authorized to be issued and sold Twenty-two Million Nine Hundred Thousand and 00/100 Dollars ($22,900,000.00) aggregate principal amount of public utility bond anticipation notes of the City (the "Notes"). The proceeds of the Notes shall be applied for the same purposes as are specified in Section l(a) hereof with respect to the application of the proceeds of the Bonds. The Notes may be issued in their entirety at one time or in part from time to time; shall be mature and be payable within five (5) years from their date; and shall be sold at competitive or negotiated sale at not less than par plus interest accrued thereon from the date thereof to the date of the delivery thereof and payment therefor and on such other terms and conditions as are determined by the Director of Finance of the City. The City may sell all or part of the notes alone or contemporaneously with any other general obligation notes or with any general obligation bonds of the City. There may be prepared and distributed a preliminary and a final Official Statement relating to any Notes in such form as shall be approved by the Director of Finance. The issuance and details of such Notes shall be governed by the provisions of Section 15.1-227.29 of Title 15.1, Chapter 5.1, Article 2 of the Code of Virginia, 1950, and Article I of Chapter 12 of the Code of the City. Each Note issued hereunder shall be