21-35-27 - Expenditures for last year of term are limited.
§ 21-35-27. Expenditures for last year of term are limited.
No board of governing authorities of any municipality shall expend from, or contract an obligation, against the budget made and published by it during the last year of the term of office of such governing authorities, between the first day of April and the first Monday of the following July, a sum exceeding one-fourth (1/4) of any item of the budget made and published by it, except in cases of emergency provided for in Section 21-35-19. The city clerk of any municipality is hereby prohibited from issuing any warrant contrary to the provisions of this section.
The provisions of this section shall not apply to a contract, lease or lease-purchase contract entered into pursuant to Section 31-7-13 or to seasonal purchases or expenditures.
Sources: Codes, 1942, § 9121-15; Laws, 1950, ch. 497, § 15; Laws, 1984 ch. 480, § 2; Laws, 2000, ch. 428, § 2; Laws, 2001, ch. 597, § 1; Laws, 2006, ch. 558, § 1, eff from and after passage (approved Apr. 20, 2006.)