§ 77. Tax budget. The amount of estimated expenditures contained in
the annual estimate adopted by the common council, less the amount of
estimated revenues applicable to the payment thereof and the amount of
all judgments payable prior to the tax levy, shall constitute the tax
budget. The common council shall levy and cause to be raised by tax the
amount of said budget, and the amount shall be levied, assessed and
raised by tax upon the real and personal property liable to taxation in
the city at the time and in the manner provided by law.