§ 285. Expenditures for bridges and other highway purposes. The moneys levied and collected, or raised by the issue and sale of bonds or notes and such other moneys as the town board, by resolution, shall have transferred pursuant to section one hundred thirteen of the town law or pursuant to section two hundred eighty-five-a of this chapter, for highway purposes, other than the repair or improvement of highways as specified in the preceding section, shall be paid out in accordance with the annual budget as modified by the town board, or by a vote of a town meeting, as provided in this article.