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After the public hearing, the Board of Mayor and Aldermen shall adopt the budget by resolution, with such modification or amendments as the Board of Mayor and Aldermen deems advisable, for the ensuing year on or before the last day of the fiscal year currently ending. If the Board of Mayor and Aldermen fails to adopt the budget by this date, the appropriations for the current fiscal year shall become the appropriations for the next fiscal year until the adoption of the new budget resolution.
(`83 Code, § 6-506) (Am. Ord. 2004-24, passed 12-13-04)