Be it further enacted, That in addition to such acts of the council as are required by statute or by this charter to be by ordinance, every act of the council establishing a fine or other penalty, or providing for the expenditure of funds, or for the contracting of indebtedness under this Act, shall be by ordinance. The enacting clause of all ordinances shall be, "The council of the City of Cookeville hereby ordains:" [As replaced by Priv. Acts 1963, ch. 74, § 1]