Section 21-E. Operating assistance for water-works corporations in certain cities

Each city having a population  of  more  than  one  million  may
  provide operating assistance to a water-works corporation subject to the
  provisions  of  the  public  service law which provides water service in
  such city for the purpose of reducing or eliminating  disparity  between
  rates  charged  for such service by the municipal water supply system of
  such city and rates charged by  such  water-works  corporation,  and  in
  furtherance of such purpose the chief executive officer of such city may
  enter  into  an  agreement  with such water-works corporation and expend
  such sums as may be appropriated therefor so as to effect a reduction of
  rates of such water-works corporation.