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Sec. 7. 11 . Anticipation Certificates. At anytime • 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 maturity 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. Sueh eeptifieates-siva++-be- slued-en-sued-tefms-and-eend ens-as the-eeune �-nay-determine--but-they-siva++-beee te-else-net +ester-Mian-Apr4+-I-a€-the-year-fe+.1ew ng-ther- ssuaaee- The council determines the terms and conditions on which the certificates are issued. Certificates must come due no later than April 1 of the year following their issuance. The-preeeeds-of-t ie-tam-le. ed-and-seelystate-er-federa+ aids-as-the-geverning-bedy-stay-have-a++seated-fer-the-fund against-wh4eh-tam-ant4eipatien-eert eater-are-issued;-and • the-fu++-fa th-and-eredit-ef-tine-e ty-siva++-be-irreveeab4y pledged-fer-tie-redetptien-ef-tie-eert4f4eates- The full faith and credit of the city, and revenues received from tax levies and from federal and state aids which have been allocated for the fund for which the tax anticipation certificates were issued will be irrevocably pledged for the redemption of the certificates. Sec. 7. 12 . Emergency Debt Certificates. Subdivision 1 . If-4n-any-year-the-reeeipt-fret-taxes er-ether-seurees-sten+d-f rent-lute-unf erseen-eause-beeene .insuff a ent-fer-the-erdinary-expenses-ef-the-eity;-er- f any-ea+army-er-atter-pub+4e-etergeney-neeess.itates-tete making-ef-extra-erd nary-expendtures;-the-eeuneil-stay-by erdinanee- ssue;-en-sueh-teens-and- n-stied-mannan-as-the eettnei+-determ nes;-emengeney-debt-eert. f4eates-te-run-net te-emeeed-three-years---A-tai€-ruff a ant-te-pay-pi4ne4pa+ • 7