CITY CHARTER - 1995 Rev Feb 13 - Laserfiche WebLink

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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. Such certificates shall be issued on such terms and conditions as the Council may determine, but they shall become due not later than April 1 of the year following their issuance. The proceeds of the tax levied and such state or federal aids as the governing body may have allocated for the fund against which tax anticipation certificates are issued, and the full faith and credit of the City shall be irrevocably pledged for the redemption of the certificates. Section 7.12. Emergency Debt Certificates. Subdivision •1. If in any year the receipt from taxes or other sources should for some unforeseen cause become insufficient for the ordinary expenses of the City, or if any calamity or other public emergency necessitates the making of extraordinary expenditures, the Council :may by ordinance issue, on :such • terms and in such manner as the Council determines, emergency debt certificates to run not to exceed three years. A tax sufficient to pay principal and interest on such certificates with the margin required by law shall be levied.as required by law. The ordinance authorizing the issue of such emergency debt certificates shall state the nature of the emergency and be approved by at least three members of the Council. It may be passed as an emergency ordinance. Subdivision 2. A description of each such proposed certificate shall be • published in the City Newsletter, but failure to give such description, or any defect in the description, shall not invalidate the certificate. CHAPTER 8 PUBLIC IMPROVEMENTS AND SPECIAL ASSESSMENTS Section 8.01. Power to Make Improvements and Levy Assessments. The City may make any type of public improvement not forbidden by law and levy special assessments to pay.all or any part of the cost of such improvements as are of a local character. The total assessments for any local improvement may not exceed the cost of the improvement, including all costs and expenses connected therewith, with interest. No assessment shall exceed the benefits to the property. Section 8.02. Effective Charter Provisions. Local improvements (the term "local improvement" shall mean a public improvement financed partly or wholly from special assessments) shall be carried out exclusively under the provisions of this Charter. Section 8.03. Local Improvement Ordinances and Regulations. Within 90 days after this Charter goes into effect, the Council shall enact suitable ordinance(s) governing local improvements and special assessments. The ordinance(s) shall provide a complete working code covering the determination • Mounds View City Charter