The full faith and credit of the issuing city must at all times be pledged to pay bonds issued under sections 458.36 to 458.40 , and to pay the current interest on them. The city's council shall each year include in its tax levy a sufficient amount to pay the interest as it accrues.
A tax levy need not be made if the quarry and dock fund described in section 458.39 contains enough money to make the payment.