In any case where a resolution or ordinance,
if passed, would require the direct expenditure of municipal funds
or affect municipal revenue, a fiscal note, including an estimate
of the cost or of the revenue impact, shall be appended thereto.
It shall be the duty of the Town Manager to
prepare the fiscal note required by this article prior to the Town
Council meeting at which action on such resolution or ordinance is
proposed, unless excused by the Council.
No resolution or ordinance without a fiscal
note, as required by this article, shall be acted upon by the Town
Council unless said requirement is dispensed with by a vote of at
least 2/3 of the Council.