At the meeting of Council at which the municipal budget is submitted, the Council shall, by ordinance, fix the date and place for a public hearing thereon. This ordinance shall be published at least one week prior to the date fixed for the hearing and shall also state that the budget is on file in the office of the Director of Finance and open to public inspection during regular office hours. At the time and place fixed, the Council shall hold a public hearing on the budget, and may continue such hearing from day to day as may be necessary. After the hearing, the Council shall adopt the budget as submitted, or as amended, as the appropriation ordinance of the municipality for the ensuing fiscal year. Such ordinance shall be adopted not later than December 31. (Amended 11-2-21)