Whenever the city council of the city of Aberdeen shall adopt an annual budget as a basis for tax levy the different items comprising the budget shall be fully set forth either in the motion, resolution or ordinance adopting the budget, or by appropriate reference to the estimates on file with the city clerk, so that the different items comprising the budget may be definitely and accurately determined from an inspection of the records. Except in case of urgent emergency calling for additional expenditures, such emergency being declared to exist by a two-thirds vote of all councilmen elect, and except in cases of necessity, the expenditures of the city of Aberdeen and officers thereof, shall be limited to the amounts specified in the annual budget as adopted by the council. Provided that the limitation of expenditures contained in this chapter shall not apply in case of judgment and other compulsory obligation of the city.