The referendum provisions prescribed by Section 252.045 do not apply to expenditures that are payable:
(1) from current funds;
(2) from bond funds; or
(3) by time warrants unless the amount of the time warrants issued by the municipality for all purposes during the current calendar year exceeds:
(A) $7,500 if the municipality's population is 5,000 or less;
(B) $10,000 if the municipality's population is 5,001 to 24,999;
(C) $25,000 if the municipality's population is 25,001 to 49,999; or
(D) $100,000 if the municipality's population is more than 50,000.