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MUNICIPAL CHARTERS

Any transfer of funds between major appropriations
for different purposes by the Mayor must be approved by
the Council before becoming effective.

—21.7.Overexpenditures forbidden

No officer or employee during any budget year may
expend or contract to expend any money or incur any
liability or enter into any contract which by its terms
involves the expenditure of money for any purpose in
excess of the amounts appropriated for or transferred to
that general classification of expenditures pursuant to
this Chapter, except as shall be approved by the Mayor
and Council at a public meeting as an "over budget" item
in excess of the budget and which shall be appropriated
from a "Contingency or Reserve Fund", or as a "transfer
of funds". Nothing in this section contained, however,
prevents the making of contracts or the spending of money
for capital improvements to be financed in whole or in
part by the issuance of bonds, nor the making of
contracts of lease or for services for a period exceeding
the budget year in which the contract is made, when the
contract is permitted by law.

-21.8.Appropriations lapse after one year

All appropriations lapse at the end of the budget
year to the extent that they are not expended or lawfully
encumbered. Any unexpended and unencumbered funds shall
be considered a surplus at the end of the budget year and
shall be included among the anticipated revenues for the
next succeeding budget year.

-21.9.Checks

All checks issued in payment of salaries or other
municipal obligations shall be issued and signed by the
Treasurer, or if the Treasurer is incapacitated or on
authorized leave of absence from the Town the Mayor shall
be authorized to sign said checks.

-21.10.Taxable property

All real property within the corporate limits of the
town is subject to taxation for town purposes and the
assessment used shall be the same as that for State and
County taxes. No authority is given by this section to
impose taxes on any property which is exempt from
taxation by any act of the General Assembly. Certain
exemptions from the town tax shall be allowed for senior
or disabled citizens by ordinance.

—21.11.Budget authorizes levy