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Page 4. any purpose by the budget resolution or authorize the transfer of sums from unencumbered balances of appropiations in the budget resolution to •other purposes. Sec. 7.09. Funds. There shall be maintained in the city treasury a gen- eral fund and such other funds as may be required by statute, ordinance , or resolution. The council may, by resolution or ordinance, make inter- fund loana, except from trust and agency funds, as it may deem necessary La, 9' approp ate. Gsfey Sec. 7.10. A Indebtedness. Subdivision 1. Except as provided in Sections 7.11 and 7.12, no obligationsshall be issued to pay current expenses, but the council may issue and sell obligations for any other municipal purpose in accordance with law and within the limitations prescribed by law. Ex- cept in the case of obligations for which an election is not required by this charter or by law, no such obligations shall be issued and sold with- out the approval of the majority of the voters voting on the question at a general or special election. Subd. 2. In addition to any other limitations prescribe4y law, no obli- wgation in excess of $50,000 will be issued, except for purposes of public improvements, without the approval of the majority of the voters voting on the question in a general or special election. If the voters do not approve the issuing of the obligations, the question of authorizing the obligations for the same purpose and in the same amount may not be sub- mitted tD the voters within a period of 180 days from the date the elec- tion was held. If the question of authorizing the obligations for the same purpose and in the same amount is not approved a second time, it may not be submitted to the voters within a period of one year after the sec- ond election. Sec. 7.11. Anticipation certificates. At any time 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 matur- ity 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 cert- ificates shall be issued on such terms and conditions as the council may determine, but they shall become due notater than April 1 of the year