148.1.Notwithstanding the fifth paragraph of subsection 3 of section 474 of the Cities and Towns Act (chapter C-19), where, on 1 January, the city’s budget is not adopted, one-quarter of each appropriation provided for in the budget of the preceding fiscal year is deemed to be adopted. The same rule applies on 1 April, 1 July and 1 October if, on each of those dates, the budget has not yet been adopted.