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8.C. - Page 33 amended April 11, 1978, certified by Secretary of State June 12, 1978) (As amended November 8, 2011, certified by Secretary of State on December 23, 2011) Section 48b. ANNUAL BUDGET: The Board shall annually, on or before the third Monday of May, carefully prepare a budget setting forth the estimated receipts of the pFort, and from other sources, for the ensuing year, and the sums of money necessarily required for the administration of the department, and for maintenance, operation, construction and development of the pFort and its facilities for the ensuing year, and stating the amount necessary to be raised by tax levy for said purposes. Said budget, when so prepared shall be certified by the President and Secretary of the Board, and a certified copy thereof shall, on or before said date, be filed with the eCity eClerk, one with the eCity mManager, and one with the aAuditor. Section 48c. TAX LEVY FUNDS: The act of filing such budget, as provided for in the foregoing section, shall constitute an appropriation to the Board of the total amount so specified therein as necessary to be raised by tax levy, and such amount shall become a part of the annual budget of the Council, and shall be deemed included in the proceeds derived from any tax which the Council, in accordance with Sections 55 to 57 of the Charter, may levy. Provided, however, there is reserved to the Council the right to reduce the amount of such appropriation by adopting an ordinance therefor at any time prior to the introducing of its ordinance fixing the annual rate of taxation, stating specifically therein its reasons for making such reduction. Such amount so fixed by the Council shall thereupon be included in its annual budget and tax levy in lieu of the amount fixed by the Board. It shall be the duty of the eCity aAuditor to credit to the Board the amount so appropriated, and the tTreasurer shall keep all such funds separate from other funds in his their possession. The aAuditor shall draw and sign warrants upon such funds, when allowed by the Board, in accordance with Section 59 of the Charter, and all powers and duties therein conferred or imposed upon the City Council are, in relation to pFort funds, hereby conferred and imposed upon the Board. The Board shall have the exclusive management and disbursement of such funds. The eCouncil may also, from time to time, make further appropriations to the Board of such amounts as may, in its judgment, be necessary or proper. Section 48d. REPAYMENT OF FUNDS: All moneys once apportioned or appropriated to the Board, and all income from the operation of the pFort and its facilities, or all net income from leases or other sources, shall remain in its control until expended; provided, the Board shall annually pay over to the General Funds of the Page 26 of 45 ATTY/CHARTER AMENDMENTS/2017/2017 DRAFT CHARTER AMENDMENTS REV: 11-29-17 JS