§ 20.65. Borrowing for salaries prohibited.

The wages and salaries provided for in this chapter may be paid only to the extent and in the amount that funds are available therefor. Under no circumstances, as to operating funds under the direct jurisdiction of the city council, shall there be any resort to borrowing funds by the issuance of bonds or certificates or other evidence of indebtedness for the purpose of meeting the costs of wages and salaries.

The city finance officer shall examine the status of revenues applicable to each payroll period in each operating fund under the direct jurisdiction of the city council and certify in writing to the council on or before the time the council meets to pass on payrolls or before payment is made pursuant to such payroll that there are sufficient revenues to meet the unexpended balances of the appropriation for the affected operating fund, including revenues applicable to such payroll period. If at any time the city finance officer finds, as to any operating fund, that such applicable revenues are insufficient to meet the full requirements in any payroll period, he shall revise the affected payroll by a uniform amount of reduction in each wage and salary rate to the extent necessary to remedy such insufficiency. (Code 1960, As Amend., § 540.220; Pet. No. 249854, § 50, 7-14-89)