(A) All warrants drawn on village funds must be signed by the President and countersigned by the Village Clerk and the Village Treasurer, and shall state by name or symbol the particular appropriation to which the warrant is chargeable, the amount thereof and the payee thereof.
(B) No warrant payable on demand shall be issued unless at that time there shall be sufficient monies in the appropriate fund to pay the warrant.
('73 Code, § 3.14)