In addition to other acts required by law to be done by ordinance, those acts of the municipal council shall be by ordinances which:
(1) Adopt or amend an administrative code or establish, alter or abolish any municipal department, office or agency;
(2) Provide for a fine or other penalty or establish a rule or regulation in which a fine or other penalty is imposed for violations;
(3) Adopt budgets, levy taxes, except as otherwise provided with respect to the property tax levied by adoption of a budget, pursuant to public notice;
(4) Grant, renew or extend franchises;
(5) Authorize the borrowing of money;
(6) Sell or lease or contract to sell or lease any lands of the municipality; and
(7) Amend or repeal any ordinance described in items (1) through (6) above.
In matters other than those referred to in this section council may act either by ordinance or resolution.