477.1. No by-law or resolution of the council authorizing the spending of money has effect unless it is accompanied with a certificate from the treasurer indicating that the municipality disposes of sufficient funds for the purposes for which the expenditure is proposed.
Where a special Act or a charter empowers the executive committee of a municipality to authorize an expenditure, the first paragraph applies to any resolution of the committee to that effect.
This section does not apply to a by-law or resolution that affects to the proposed expenditure any amount of money from a source other than the general fund or that authorizes the conclusion of a transaction.
If a convention made under a resolution or by-law to which this section applies has effect in respect of more than one fiscal year, a certificate must be issued in accordance with the first paragraph in respect of that portion of the expenditures that will be made during the first fiscal year and thereafter at the beginning of each fiscal year in respect of which the convention has effect.
1979, c. 36, s. 86; 1984, c. 38, s. 26; 1996, c. 2, s. 209; 1999, c. 59, s. 4; 2002, c. 37, s. 79.