Section 272. Water sinking fund of the city of New York

There is hereby
  continued the fund known as the "water sinking fund of the city  of  New
  York"  which  shall have for its purpose the amortization and redemption
  of all corporate stock of the city of New York issued on and  after  the
  first  day of January, eighteen hundred ninety-eight, to provide for the
  supply of water, excepting that issued  since  the  first  day  of  July
  nineteen hundred eighty-one which is redeemable from the general sinking
  fund  or  any other sinking fund established pursuant to chapter 11-A of
  this charter.