(A) (1) All resolutions and motions:
(a) That create any liability against the village;
(b) That provide for the expenditure or appropriation of its money; or
(c) To sell any village or school property, and all ordinances, passed by the Village Board shall be deposited with the City Clerk.
(2) If the Village President approves an ordinance or resolution, he or she shall sign it.
(3) Those ordinances, resolutions, and motions which the Village President disapproves shall be returned to the City Council, with the Village President's written objections, at the next regular meeting of the City Council occurring not less than five days after their passage.
(4) The Village President may disapprove of any one or more sums appropriated in any ordinance, resolution, or motion making an appropriation, and, if so, the remainder shall be effective. However, the Village President may disapprove entirely of an ordinance, resolution, or motion making an appropriation, and, if so, the remainder shall be effective. However, the Village President may disapprove entirely of an ordinance, resolution, or motion making an appropriation.. If the Village President fails to return any ordinance or any specified resolution or motion with his or her written objections within the designated time, it shall become effective despite the absence of the Village President's signature.
(B) Every resolution and motion specified in division (A), and every ordinance, that is returned to the Board by the Village President shall be reconsidered by the Board at the next regular meeting following the regular meeting at which the Board receives the Village President's written objection. If, after reconsideration, two-thirds of all the trustees then holding office agree at that regular meeting to pass an ordinance, resolution, or motion, notwithstanding the Village President's refusal to approve it, then it shall be effective. The vote on the question of passage over the Village President's veto shall be by yeas and nays and shall be recorded in the journal.