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person in the employ of the city for any purpose not authorized in the budget <br /> resolution, or for any amount in excess of the amount authorized, shall be a <br /> personal obligation upon the person incurring the obligation. No check shall <br /> be issued or transfer made to any account other than one owned by the city until <br /> the claim to which it relates has been supported by an itemized bill, payroll, <br /> or time sheet or other document approved and signed by the responsible city <br /> officer who vouches for its correctness and reasonableness. <br /> Sec. 7.08. Alterations in the Budget. After the budget resolution has been <br /> adopted, the council shall not exceed the amounts fixed in the resolution beyond <br /> the estimated receipts except to the extent that actual receipts exceed the <br /> estimate. At anytime the council may, by resolution approved by a majority of <br /> its members, reduce the sums appropriated for any purpose by the budget resolution, <br /> or authorize the transfer of sums from unencumbered balances of appropriations in <br /> the budget resolution to other purposes. <br /> Sec. 7.09. Funds. There shall be maintained in the city treasury a general <br /> fund and such other funds as may be required by state law, ordinance, or resolution. <br /> The council may, by resolution or ordinance, make inter-fund loans, except from <br /> trust and agency funds, as it may deem necessary and appropriate. <br /> Sec. 7.10. City Indebtedness. <br /> Subdivision 1. Except as provided in sections 7.11 and 7.12, no obligation <br /> shall be issued to pay current expenses, but the council may issue and sell ob- <br /> ligations for any other municipal purpose in accordance with state law and within <br /> the limitations prescribed by law. Except in the case of obligations for which <br /> -22- <br />