The City Council shall, within the first quarter of each fiscal year, pass an ordinance to be termed the “Annual Appropriation Bill,” in which shall be appropriated such sum or sums of money as deemed necessary to defray all expenses and liabilities of the city for the coming fiscal year. The ordinance shall specify the objects and purposes for which appropriations are made, and the amount appropriated for each object or purpose. No further appropriation shall be made at any other time during the fiscal year, unless the proposition to make the additional appropriation has been sanctioned by a majority of the legal voters of the city, either by petition signed by them or at a special election called therefor.
(‘69 Code, § 2-5)
Statutory reference:
Appropriation, see ILCS Ch. 65, Act 5 § 8-2-9