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• No check shall be issued or transfer made to any account other than one owned <br /> by the city until the claim to which it relates has been supported by an itemized <br /> bill, payroll, or time sheet or other document approved and signed by the responsible <br /> city officer who vouches for its correctness and reasonableness. <br /> Sec. 7.08. Alterations in the Budget. After the budget resolution has been <br /> adopted, the council shall not exceed the amounts fixed in the resolution beyond <br /> the estimated receipts except to the extent that actual receipts exceed the estimate. <br /> At any time the council may, by resolution approved by a majority of its members, <br /> reduce the sums appropriated for any purpose by the budget resolution, or authorize <br /> the transfer of sums from unencumbered balances of appropriations in the budget <br /> • <br /> resolution to other purposes. <br /> Sec. 7.09. Funds. There shall be maintained in the city treasury a general <br /> • fund and such other funds as may be required by state law, ordinance, or resolution. <br /> The council may, by resolution or ordinance, make inter-fund loans, except from <br /> trust and agency funds, as it may deem necessary and appropriate. <br /> Sec. 7.10. City Indebtedness. Subdivision 1. Except as provided in Sections <br /> 7.11 and 7.12, no obligations shall be issued to pay current expenses, but the <br /> council may issue and sell obligations for any other municipal purpose in accordance <br /> with state law and within the limitations prescribed by law, Except in the case <br /> of obligations for which an election is not required by this Charter or by state <br /> law, no such obligations shall be issued and sold without the approval of the <br /> majority of the voters voting on the question at a general or special election. <br /> Subd. 2. The council shall cause to be mailed to residents of the city a de- <br /> scription of each proposed issue of an obligation. <br /> • <br /> -5- <br />