The Director of Finance of the Municipality shall furnish to Council not later than the second regular meeting of the month of January of each calendar year an ordinance making appropriations for the expenditures of the Municipality during the year. The Council shall adopt such ordinance in its original form or with such revision as it may find proper. Such appropriation ordinance shall be in such form and detail as may be required by the general laws of the State of Ohio, and may be amended or supplemented by Council after its passage, but appropriations shall not be made in excess of the estimated revenues of the Municipality. The Council may make preliminary appropriations for current expenses sufficient in amount to meet the current needs until the annual appropriation ordinance has been enacted and is in effect.
The passage of an ordinance authorizing the issue or sale of bonds or notes of the Municipality shall constitute an appropriation of the proceeds thereof to the purpose for which said bonds or notes are issued.
(Amended 11-7-78)