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A. In accordance with law the Mayor and the Board of Education shall execute the Board of Education and Assembly budgets and the Capital Improvement Program as adopted by the Assembly.

B. No contract, agreement or other obligation involving the expenditures of money shall be entered into or be authorized by the Mayor, Assembly, Board of Education, employee, or any representative of the Borough or School District unless funds have been appropriated for that purpose.

C. In certifying fund availability to the Assembly prior to an appropriation, all moneys actually in the treasury to the credit of the fund from which they are to be drawn and all applicable anticipated revenue shall be considered.

D. A bond, contract, lease or other obligation requiring the payment of funds from the appropriation of a later fiscal year or of more than one fiscal year shall be made or approved by ordinance. Nothing in this section is intended to affect Assembly authority as established by state law over appropriations to, expenditures by, or contracts of the School District. However, the Assembly is not required to provide moneys for a multi-year bond, contract, lease or other obligation entered into by the Borough or the School District until the Assembly either appropriates said moneys or approves said bond, contract, lease, or other obligation in accordance with this section. (Ord. 2006-12 § 2, 2006; amended during 1993 republication; Ord. 89-101 § 11, 1990; Ord. 85-001 § 2, 1985. 2004 Code § 3.03.200.)