All ordinances passed by the City Council and all resolutions and motions which create any liability against the city, or provide for the expenditure or appropriation of its money, or provide for the sale of any city or school property, shall be deposited with the City Clerk. If the Mayor approves of them, he shall sign them. If he disapproves, he shall return them to the City Council, with his written objections at the next regular meeting of the City Council which occurs not less than five days after their passage. The Mayor may disapprove of one or more sums as appropriated in any ordinance, resolution, or motion making an appropriation and the remainder shall be effective, or the Mayor may disapprove entirely of an ordinance, resolution, or motion making an appropriation. If the Mayor fails to return any ordinance or any specified resolution or motion with his written objections within the designated time, it shall become effective despite the absence of his signature.
(ILCS Ch. 65, Act 5 § 3-11-18) (‘69 Code, § 2-37)