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, make an appropriation of the money needed for municipal purposes for the next fiscal year of the City 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 percent of the assessed valuation of all real and personal property in the City.
The budget resolution shall include a minimum appropriation of money for the street construction program equal to 2/5 of one percent of the taxable valuation of all non-exempt real and personal property in the City. If recommended by the City Administrator and approved by a 5/7 vote of the Council, the Council may appropriate less money for the street construction program than the minimum required by this section for no more than two of any five consecutive fiscal years.
(Amendment of 8-15-1995; Amendment of 8-5-2003: Amendment of 8-2-2005)
State law reference–Mandatory that Charter provided for annual appropriation of money for municipal purposes, MCL 117.4(h).