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• Sec. 7. 08 . Alterations in the Budget. After the <br /> budget resolution has been adopted, the council shall not <br /> increase the amounts fixed in the resolution heyei -the <br /> estimated-reee pts except to the extent that actual receipts <br /> exceed the estimate. At anytime the council may, by <br /> resolution approved by a majority of its members, reduce the <br /> sums appropriated for any purpose by the budget resolution, <br /> or authorize the transfer of sums from unencumbered balances <br /> of appropriations in the budget resolution to other <br /> purposes. <br /> Sec. 7. 09. Funds. There-sha++-ire-ma,ista rted- a-the <br /> e ty-treasary The city treasury maintains a general fund and <br /> such other funds as may be required by state law, ordinance, <br /> or resolution. The council may, by resolution or ordinance, <br /> make inter-fund loans, except from trust and agency funds, <br /> as it may deems necessary and appropriate. <br /> • Sec. 7. 10 . City Indebtedness. <br /> Subdivision 1 . Except as provided in sections 7. 11 and <br /> 7 .12, no obligation sha+1 may be issued to pay current <br /> expenses, but the council may issue and sell obligations for <br /> any other municipal purpose in accordance with state law_ <br /> amd-1a h n-t ie-±im tatAens-preset4ised-iay-+aw- Except in the <br /> case of obligations for which an election is not required by <br /> this charter or by state law, no such obligations sha++ may <br /> be issued and sold without the approval of the majority of <br /> the voters voting on the question at a general or special <br /> election. <br /> Subd. 2 . A description of eaeh-sieh proposed <br /> certificates sha++ must be published in the city newsletter <br /> or the city newspaper, but failure to give such description, <br /> or any defect in the description, sha++ cannot invalidate <br /> the certificate. <br /> 111 6 <br />