Sec. 5-12. - Adoption of budget.

(1)

After such further hearing, the Council may insert the additional item or items, and make the increase or increases, to the amount in each case indicated by the published notice, or to a lesser amount, but where it shall increase the total proposed expenditures, it shall also increase the total anticipated revenue to at least equal such total proposed expenditures.

(2)

The budget shall be adopted by the favorable votes of at least a majority of all the members of the Council.

(3)

The budget shall be finally adopted not later than seven (7) days before the end of the current fiscal year. Should the Council take no final action on or prior to such day, the budget, as submitted, shall be deemed to have been finally adopted by the Council.