On or before the first day of June in each year the city manager shall submit to the council a tax budget for the ensuing fiscal year. For that purpose, at such date as he shall determine, he shall obtain from the head of each department or agency of the city, plans for the work to be undertaken by such agency during the next fiscal year, together with estimates of the cost of performing such work. The department of finance shall supply him with estimates of probable revenue. From these data the city manager may revise the estimates and prepare his recommendations for the tax budget for the ensuing fiscal year.
A copy of the tax budget, as recommended by the city manager, shall be transmitted to the council and at least two copies shall be placed on file in the office of the director of finance on or before June 1 for public inspection. Notice that they are available for that purpose shall be given by publication once in a newspaper of general circulation in the city not later than June 5 of each year. Such notice shall also specify the date of the first hearing. The council shall hold a public hearing on the tax budget at the time and place specified in the notice and may continue such hearing as necessary. When the hearing is concluded, the council shall consider the tax budget, adopt it, with or without amendments, and transmit it to the County Budget Commission on or before July 15 in the form required by law.
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