The President and Board of Trustees shall annually, on or before the third Tuesday in September in each year, ascertain the total amount of appropriations for all corporate purposes legally made and to be collected from the tax levy of that fiscal year; and by an ordinance specifying in detail the purpose for which such appropriations are made, and the sum or amount appropriated for each purpose respectively, levy the amount so ascertained upon all the property subject to taxation within the Village as the same is assessed and equalized for State and County purposes for the current year, a copy of which ordinance shall be filed with the County Clerk by the Village Clerk. (1987 Code § 1-8-3)