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reduce the sums appropriated for any purpose by the budget resolution, or authorize the transfer of sums from <br /> unencumbered balances of appropriations in the budget resolution to other purposes. <br /> Sec. 7.09. Funds. There shall bo maintained in tho city troasury The city treasury maintains a general <br /> fund and such other funds as may be required by state law, ordinance, or resolution. The council may, by <br /> resolution or ordinance, make inter-fund loans, except from trust and agency funds, as it may deems necessary <br /> and appropriate. <br /> Sec. 7.10. City Indebtedness. <br /> Subdivision 1. Except as provided in sections 7.11 and 7.12, no obligation ^' f may be issued to pay <br /> current expenses, but the council may issue and sell obligations for any other municipal purpose in accordance <br /> with state law. .•- • ••• •_ ••• _ • _ _ _ •___ _ _ . Except in the case of obligations for which an <br /> election is not required by this charter or by state law, no such obligations e l may be issued and sold without <br /> the approval of the majority of the voters voting on the question at a general or special election. <br /> Subd. 2. A description of each such proposed certificates shall must be published in the city newsletter <br /> or the city newspaper, but failure to give such description, or any defect in the description,a cannot <br /> invalidate the certificate. <br /> Sec. 7.11. Anticipation Certificates. At anytime after January 1, the council may issue certificates of <br /> indebtedness in anticipation of state and federal aids and the collection of taxes levied the previous year for <br /> any fund and not yet collected. The total amount of certificates issued against any fund for any year together <br /> with interest thereon until maturity shall not exceed 90% of the total state and federal aids and current taxes <br /> due to the fund and uncollected at the time of issuance. Such certificates shall be issued on such terms and <br /> their issuance. The council determines the terms and conditions on which the certificates are issued. <br /> Certificates must come due no later than April 1 of the year following their issuance. The proceeds of the tax <br /> The full faith and credit of the city, and revenues received from tax levies and <br /> from federal and state aids which have been allocated for the fund for which the tax anticipation certificates <br /> were issued will be irrevocably pledged for the redeption of the certificates. <br /> Sec. 7.12. Emergency Debt Certificates. <br /> Subdivision 1. •• - __ •_ _ _ • .. _ _ •_ - -- •_- _ _ _ _ ::• <br />