Section 11.4 Adoption of Budget; Tax Limit.
   Not later than the third Monday in May, the Council shall, by resolution, adopt the budget for the next fiscal year and shall, in such resolution appropriate the money required for such budget and provide for a levy of the amount necessary to be raised by taxes upon real and personal property for Municipal purposes, which levy shall not exceed two per cent of the assessed valuation of all real and personal property subject to taxation in the City.