[Adopted as Ch. 2, Art. I, of the 1973 Code]
The Official Seal of the City shall have engraved around its outer rim the words: "City of Waverly, Illinois, April 16th, 1878." On its inner surface shall be engraved a rising sun.
The City Clerk shall be the custodian of the City Seal and shall affix its impression on documents whenever this is required.
The fiscal year of the City shall begin on the first day of May of each year and end on the last day of April of the year following.
The City Council shall, within the first quarter of each fiscal year, pass an ordinance to be termed the "annual appropriation bill," in which it shall appropriate such sums of money as may be deemed necessary to defray all necessary expenses and liabilities of the City government during that fiscal year, and in such ordinance shall specify the different objects and purposes for which such appropriations are made, and the amount appropriated for each object or purpose. No further appropriations shall be made at any time during such fiscal year, except as otherwise provided by law.
The City Council shall annually, before the third Tuesday in September of each year, ascertain the total amount of appropriations for all corporate purposes legally made and to be collected from the tax levy of that fiscal year, and by an ordinance, specifying in detail the purposes for which such appropriations are made, and the sum or amount appropriated for each purpose, respectively, levy the amount so ascertained upon all the property subject to taxation within the City, as the same is assessed and equalized for state and county purposes for the current year. The City Clerk shall file a certified copy of such ordinance in the office of the County Clerk prior to the third Tuesday in September.
At any and all times when there shall be no money in the City treasury to meet and defray the ordinary and necessary expenses of the City, including expenses for building purposes and to pay off and take up the properly allowed bills and claims for such expenses, the Mayor is hereby authorized and instructed to sign and draw and issue, and the City Clerk is hereby authorized and instructed to countersign, City warrants of the City, directed to the City Treasurer, against and in anticipation of the collection of any taxes already levied by ordinance of the City, to provide a fund for the payment of the ordinary and necessary expenses of the City.
The warrants drawn and issued under and pursuant to the provisions of § 7-6 shall, as provided by law, show upon their face that they are payable solely from said taxes when collected, and not otherwise. Said warrants shall show to what particular fund they are chargeable; the aggregate amount of warrants drawn and issued under and pursuant to this chapter against any particular fund shall not, in any fiscal year, exceed 75% of the amount levied for such fund for said fiscal year. The taxes against which said warrants are drawn shall be set apart and held for their payment, as provided by law. Warrants drawn under and pursuant to this chapter shall not be charged or marked "Paid" upon the books of either the City Treasurer or the City Clerk, until they shall be actually paid and cancelled. When they are so actually paid and cancelled, they shall then be charged against the respective funds upon which they are drawn.
Every warrant issued under the provisions of § 7-6 shall bear interest payable only out of the taxes against which it shall be drawn at the rate provided by statute, from the date of its issuance until paid, or until notice shall be given by publication in a newspaper published in the City of Waverly, that the money for the payment is available and that it will be paid on presentation.
The City Clerk shall keep an accurate and exact account, in connection with his other accounts, of the amount of money drawn against each appropriation and tax levy therefor, by the issue of anticipation warrants. He shall report to the City Council, at its first regular meeting in each month, the aggregate amount drawn against each appropriation and the tax levy therefor, by anticipation warrants, during the preceding month. Nothing herein contained shall be construed to authorize the Mayor and the City Clerk to draw anticipation warrants and ordinary warrants, in any fiscal year, to an amount exceeding, together, the amount appropriated, for any fund or purpose, in the annual appropriation bill for such fiscal year; but the aggregate amount of warrants (including both anticipation warrants and ordinary warrants) against any particular fund, or appropriation, in any fiscal year, shall not exceed the amount appropriated for such fund in the annual appropriation bill for such fiscal year.