The City Council shall have and possess and shall exercise all executive and legislative powers, functions and duties conferred upon the city or its officers, together with the following:
(A) It shall make all orders for the doing of work or the making or construction of any improvements or building.
(B) It shall levy all taxes, apportion and appropriate all funds, and audit all bills, accounts, payrolls or claims, and order payment thereof.
(C) It shall make or authorize the making of all contracts, and no contract shall bind or be obligatory upon the city unless made by ordinance or resolution adopted by the Council, or reduced to writing by the Council, and approved thereby or expressly authorized by ordinance or resolution adopted by the Council; provided however, in all contracts involving the expenditure of a less amount than $1,500, it shall not be necessary that the same be made, or authorized by ordinance or resolution. All contracts and all ordinances and resolutions making contracts or authorizing the making of contracts, shall be drawn up by the City Attorney or examined by such officer before the same is made or passed.
('71 Code, § 1-6-2)