The governing body of a municipality may determine the portion or amount of tax increment generated from municipal sales and use taxes attributable to a reinvestment zone, above the sales tax base, and request it to be deposited into a tax increment fund. Before issuance of a bond, note or other obligation, the governing body may enter into an agreement and direct the comptroller to withhold from any payment to which the municipality may be entitled for deposit into the fund and to continue withholding and paying additional amounts into the fund until a total sufficient to satisfy the amount due has been met.