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reduce the sums appropriated for any purpose by the budget resolution, or authorize the transfer of sums from 1111 unencumbered balances of appropriations in the budget resolution to other purposes. Sec. 7.09. Funds. Thero shall bo maintained in tho city troacury The city treasury maintains 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 R:ay deems necessary and appropriate. Sec. 7.10. City Indebtedness. Subdivision 1. Except as provided in sections 7.11 and 7.12, no obligation shall may be issued to pay current expenses, but the council may issue and sell obligations for any other municipal purpose in accordance with state law,aed within tho limitations proccribod 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 hall may 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. A description of each such proposed certificates that must be published in the city newsletter or the city newspaper, but failure to give such description, or any defect in the description, #all•cannot invalidate the certificate. • Sec. 7.11. Anticipation Certificates. At anytime after January 1, the council may issue certificates of indebtedness in anticipation of state and federal aids and the collection of taxes levied the previous year for any fund and not yet collected. The total amount of certificates issued against any fund for any year together with interest thereon until maturity shall not exceed 90% of the total state and federal aids and current taxes due to the fund and uncollected at the time of issuance. -- -- -:-• ' - -: ' -:e 2.. - -- --- .._ -- I .. +. 41! their isruanco. The council determines the terms and conditions on which the certificates are issued. Certificates must come due no later than April 1 of the year following their issuance. The proceeds of the tax -- - - - - -4_ - 4:e: • ..... - + - -- ... --- - - - --- 4_ 4•: 4-.,. - a .. ..- 1- The full faith and credit of the city. and revenues received from tax levies and from federal and state aids which have been allocated for the fund for which the tax anticipation certificates were issued will be irrevocably oledoed for the redeption of the.certificates. Sec. 7.12. Emergency Debt Certificates. Subdivision 1. of In any year the receipt from taxes or other sources should from some unforsoon