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4 No check shall be issued or transfer made to any account other than one owned I by the city until the claim to which it relates has been supported by an itemized bill, payroll, or time sheet or other document approved and signed by the responsible city officer who vouches for its correctness and reasonableness Sec. 7.08. Alterations in the Budget. After the budget resolution has been adopted, the council. shall not exceed the amounts fixed in the resolution beyond the estimated receipts except to the extent that actual receipts exceed the estimate. At any time the council may, by resolution approved by a majority of its members, reduce the sums appropriated for any purpose by the budget resolution, or authorize the transfer of sums from unencumbered balances of appropriations in the budget • resolution to other purposes. Sec. 7.09. Funds. There shall be maintained in the city treasury a general fund and such other funds as may be required by state law, ordinance, or resolution. The council may, by resolution or ordinance, make inter-fund loans, except from trust and agency funds, as it may deem necessary and appropriate. Sec. 7.10. City Indebtedness. Subdivision 1. Except as provided in Sections 7.11 and 7.12, no obligations shall be issued to pay current expenses, but the council-may- issue-and sell--obligations--for any--other municipal-purpose inaccordance - with state law and within the limitations prescribed by law.. Except in the case of obligations for which an election is not required by this Charter or by state law, no such obligations shall be issued and sold without the approval of the majority of the voters voting on the question at a general or special election. Subd. 2. The council shall cause to be mailed,,to residents of the city a de- scription of each proposed issue of an obligation it-i,„4 ti yu%V "4`�"" r / / , • _�.