4556

MUNICIPAL CHAPTERS

for different purposes by the mayor must be approved by
the council before becoming effective.

51.  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 expenditure pursuant to
this charter. Any contract, verbal or written, made in
violation of this charter is null and void. 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.

52.  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.

53.  Checks.

All checks issued in payment of salaries or other
municipal obligations shall be issued and signed by the
clerk—treasurer and shall be countersigned by the mayor.

54.  Taxable property.

All real property and all tangible personal property
within the corporate limits of the town, or personal
property which may have a situs there by reason of the
residence of the owner therein, is subject to taxation
for municipal 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.

55.   Budget authorizes levy.

From the effective date of the budget, the amount
stated therein as the amount to be raised by the property
tax constitutes a determination of the amount of the tax
levy in the corresponding tax year.