(a) The approval of the budget by the board of directors shall amount to an appropriation, for the purposes of the budget, of the funds which are lawfully applicable to the different items therein contained.
(b) The board may alter or revise the budget from time to time, and unpledged funds appropriated by the board for any specific purpose may by subsequent action of the board be appropriated to another purpose subject to the following exceptions:
(1) Funds resulting from taxes levied under statute or ordinance for a specific purpose may not be diverted to another purpose; and
(2) Appropriated funds may not be diverted to another purpose where any creditor of the municipality would be prejudiced thereby.
Section: Previous 14-48-114 14-48-115 14-48-116 14-48-117 14-48-118 14-48-120 14-48-121 14-48-122 14-48-123 14-48-124 14-48-125 14-48-126 14-48-127 14-48-128 14-48-129 NextLast modified: November 15, 2016