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Page 26 of 45 ATTY/CHARTER AMENDMENTS/2018/2018 DRAFT CHARTER AMENDMENTS REV: 06-25-18 VR No sale of any real property under the jurisdiction of the Board of Port Commissioners shall be made except in accordance with the provisions of Section 3-3/4 of this cCharter and all powers and duties therein imposed on the Council are hereby conferred and imposed on the Board of Port Commissioners with respect to property under its jurisdiction. Every lease of real property under the jurisdiction of the Board of Port Commissioners for a term in excess of one (1) month shall be approved by ordinance after public hearing held on the question of such approval. Such ordinances shall be subject to the referendum provisions of this cCharter. Every lease of real property under the jurisdiction of the Board of Port Commissioners for a term of one (1) calendar month or less shall be approved by said Board by motion duly made and carried, and may be granted without public notice, hearing, or bid. No lease of real property under the jurisdiction of the Board of Port Commissioners shall be made for a term longer than fifty (50) years. (As 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 pPort, 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 pPort 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 cCity cClerk, one with the cCity 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 cCity aAuditor to credit to the Board the amount so appropriated, and the City 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 pPort funds, hereby conferred and imposed Formatted: Character scale: 100%, Condensed by 0.05pt 8.A. - Page 34