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For an emergency caused by an act of God or the public enemy or some contingency which could not have been reasonably foreseen at the time of adoption of the budget, the council may authorize the expenditure of funds in excess of such budget by ordinance or resolution duly adopted by a two-thirds vote of the council. Such resolution shall set forth in full the facts concerning such emergency and shall be spread at length in the minutes of the meeting of the council at which such ordinance or resolution was adopted. In case of such emergency in the passage of an ordinance or resolution authorizing additional expenditures in excess of the budget and if there are funds or money available for such excess expenditures in some other fund which will not be needed for expenditures during the balance of the fiscal year, the council shall transfer such available money from such fund to the fund from which the excess expenditure is to be paid. If sufficient money which can be so transferred is not available to meet the authorized excess expenditure, the council may make a temporary loan through the issuance of registered warrants so as to provide for such excess expenditures. The total amount of such temporary loans shall not exceed such amount as can be raised by a two-mill levy on the assessed valuation of the taxable property within the limits of the City. (Code 1979, § 2-170)