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take part in any manner in any contract with the City, shall voluntarily have a <br /> personal financial interest in such contract or personally benefit financially <br /> therefrom. <br /> Section 12.04. Official Bonds. The Clerk-Administrator, the City <br /> Treasurer, and such other officers or employees of the City may be provided for <br /> by ordinance shall each, before entering upon the duties of his/her respective <br /> office or employment, give a corporate surety bond to the City in such form and <br /> in such amount as may be fixed by the Council as security for the faithful <br /> performance of his/her official duties. This corporate surety bond may be in the <br /> form of either individual or blanket bonds at the discretion of the Council. They <br /> shall be approved by the Council, and approved as to form by the City Attorney, <br /> and filed with the Clerk-Administrator. The premiums on the bonds shall be <br /> paid by the City. <br /> Section 12.05. Sales of Real Property. No real property of the City shall <br /> be disposed of except by ordinance. The proceeds of any sale of such.property:: <br /> shall be used as far as possible to retire any outstanding indebtedness incurred <br /> by the City in the purchase, construction, or improvement of this or other <br /> property used for the same public purpose. If there is no such outstanding <br /> indebtedness, the Council may by resolution designate some other public use for <br /> the proceeds. <br /> Section 12.06. Vacation of Streets. The Council may by ordinance vacate <br /> any street or alley or other public grounds or part thereof within the City. Such <br /> vacation may be made only after published notice in the official newspaper and <br /> an opportunity for affected property owner and public to be heard, and upon <br /> such further terms and by such procedure as the Council by ordinance may <br /> prescribe. A notice of completion of such procedure shall be filed in accordance <br /> with law. <br /> Section 12.07. Statutes not Affected by Charter. All general laws and <br /> statutes of the state applicable to all cities operating under Home Rule Charters, <br /> or applicable to cities of the same class as the City of Mounds View operating <br /> under Home Rule Charters, and not inconsistent with the provisions of this <br /> Charter, shall apply to the City of Mounds View, and shall be construed as <br /> supplementary to the provisions of this Charter. <br /> Section 12.08. City to Succeed to Rights and Obligations of Former <br /> Charter. The City shall succeed to all the property, rights, and privileges, and <br /> shall be subject to all legal obligations of the City under the former Charter. <br /> Section 12.09. Existing Ordinances and Resolutions Continued. All <br /> ordinances, resolutions and regulations of the municipality in force when this <br /> ' Charter takes effect, and not inconsistent with the provisions thereof, are hereby <br /> continued in full force and effect until amended or repealed. <br /> Section 12.10. Officers to Continue for Present Terms. All elective and <br /> appointive officers of the City holding office on the effective date of this.Charter <br /> ' shall continue in office for the terms to which they were elected or appointed, <br /> 110 <br /> Mounds View City Charter <br />