SECTION 4.06. LEVYING TAXES.
   The Council shall have the power to levy taxes in the manner provided by general law and subject to the limitations provided therein. Whenever the Council shall find that anticipated revenues will not be sufficient to meet the necessary costs of the Municipality, it may, by resolution adopted by a majority vote thereof for a general election, or, by resolution adopted by an affirmative vote of two thirds thereof for a special election, call for an election on the question of increasing tax rates. Such resolution shall specify the purpose or purposes of the proposed levy, the rate thereof, the length of time during which such rate shall be in effect, and the date of the proposed election thereon, which date can be at a general election or other date. Such resolution shall be effective upon approval, and shall be certified forthwith to the Board of Elections. If a majority of those voting therein vote for the approval of such additional levy, the Council shall make such levy, or such part thereof, as it finds necessary, and certify the same to the County Auditor to be placed on the tax list for collection.