The fiscal year of the city shall begin on January 1 of each year and shall end on December 31 in each year. Prior to the commencement of the fiscal year, City Council shall adopt an annual operating budget, by ordinance, which provides for the collection of revenues and payment of expenses for the operation and debt retirement of the city. The budget ordinance shall set the annual ad valorem tax rate and provide for the procedure for the collection of the ad valorem taxes. The city may contract for the collection of ad valorem taxes and adopt the procedures for collection, delinquencies and penalties of the collecting agency, by reference, in the budget ordinance.
(1985 Code, § 9-1) (Ord. 86-21, passed 8-12-1986)