All actions of the City Council, whether by motion, resolution or ordinance, for the purchase of materials, supplies, equipment, fixtures or land, or, for the letting of any contract for service, maintenance, repair or improvement or for the expenditure, transfer, donation or distribution of municipal funds, relative to the above, exceeding the sum of $1,000, shall require, as part of the motion, resolution or ordinance, identification of the fund or funds source from which the expenditure shall be made, specification of the date or dates for which such purchase, expenditure, donation or transfer shall be made and both a preliminary reading and approval and a second or final reading and approval, to be made not sooner than the next regular Council meeting to follow, prior to becoming final.
(Prior Code, § 1-5-22)