(a) General rule.--When all estimates for the receipts, liabilities and expenditures for the ensuing year are made, council shall proceed to make the annual appropriations and shall fix the tax rate at the figure that will, in combination with all other estimated receipts of the city, fully meet and cover the aggregate amount of the estimates of liabilities and expenditures for the ensuing year.
(b) Exceptions.--
(1) No appropriation shall be made for any purpose until the following are provided for:
(i) Interest accruing on the funded debt of the city and the principal of that part of the debt as may be coming due in that fiscal year.
(ii) The salaries of officers.
(iii) The ordinary and necessary expenses of the city.
(2) No appropriation shall be made for any purpose in excess of the estimated receipts and revenues for the fiscal year for which the appropriations are made.