127. Every agreement entailing commitment of the city’s funds by a borough council for a period extending beyond the fiscal year in which the agreement is made must be authorized by the city council.
The city council may, by by-law, provide for exceptions to the rule set out in the first paragraph.
Every by-law by which the borough council delegates the power to authorize expenditures to an officer or employee must be authorized by the city council where the authorization of expenditures that may be granted under the delegation entails commitment of the city’s credit for a period extending beyond the fiscal year in which the authorization is granted.
2000, c. 56, Sch. II, s. 127; 2002, c. 37, s. 63; 2016, c. 31, s. 121.