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Section 7 .09 Funds. There must be maintained in the City <br /> treasury a general fund and such other funds as may be required by <br /> State Law, ordinance, or resolution. The Council may, by <br /> resolution or ordinance, make inter-fund loans, except from trust <br /> and agency funds, as it deems necessary and appropriate. <br /> Section 7 . 10 City Indebtedness. <br /> Subdivision 1. Except as provided in sections 7 . 11 and 7 . 12, <br /> no obligation may be issued to pay current expenses, but the <br /> Council may issue and sell obligations for any other municipal <br /> purpose in accordance with State Law. Except in the case of <br /> obligations for which an election is not required by this Charter <br /> or by State Law, no such obligations may be issued and sold without <br /> the approval of the majority of the voters voting on the question <br /> at a general or special election. <br /> Subdivision 2 . A description of proposed certificates must be <br /> published in the City- newsletter or the City newspaper, but failure <br /> to give such description, or any defect in the description, cannot <br /> invalidate the certificate. <br /> Section 7 . 11 Anticipation Certificates . . At any time after <br /> January 1, the Council may issue certificates of indebtedness in <br /> anticipation of state and federal aids and the collection of taxes <br /> levied the previous year for any fund and not yet collected. The <br /> (94-2)26 <br />