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a This corporate surety bond may be in the form of either individual or blanket bonds at the discretion of the council. They shall be approved by the council, and approved as to form by the city attorney, and filed with the city clerk. The premiums on the bonds shall be paid by the city. Sec. 12.05. Sales of Real Property. No real property of the city shall be disposed of except by ordinance. The proceeds of any sale of such property shall be used as far as possible to retire any outstanding indebtedness incurred by the city in the purchase, construction, or improvement of this or other property used for the same public purpose. If there is no such outstanding indebtedness, the council may by resolution designate some other public use for the proceeds. Sec. 12.06. Vacation of Streets. The council may by ordinance vacate any street or alley or part thereof within the city. Such vacation may be made only after published notice and an opportunity for affected property owner and public to be heard, and upon such further terms and by such procedure as the council by ordinance may prescribe. A notice of completion of such procedures shall be filed in accordance with state law. Sec. 12.07. Statutes not Affected by Charter. All general laws and statutes of the--state--applicable to all cities operatingunder-home-rule charters -or- applic- able to cities of the same class as the City of Mounds View operating under home rule charters, and not inconsistent with the provisions of this Charter, shall apply to the City of Mounds View, and shall be construed as supplementary to the provisions of this Charter. Sec. 12.08. Existing Ordinances and Resolutions Continued. All ordinances, • resolutions and regulations of the municipality in force when this Charter takes effect, and not inconsistent with the provisions thereof, are hereby continued in full force and effect until amended or repealed. -2-