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Mounds View Charter Commission Date: April 2, , 2004 <br /> Charter Updates; Category 2 Items; Chapter 7 <br /> Revision—Draft 4 Page9 of 9 <br /> and in such manner as the Council determines, emergency debt certificates not to exceed <br /> 10%of the total City budget and to run not to run exceeding three years.A tax sufficient <br /> to pay principal and interest on such certificates with the margin required by law shall be <br /> levied as required by law. The ordinance authorizing the issue of such emergency debt <br /> certificates shall state the nature of the emergency and be approved by at least three <br /> members of the Council. It may be passed as an emergency ordinance. <br /> Subdivision 2. A description of each such proposed certificate shall be published <br /> in the City Newsletter, but failure to give such description, or any defect in the <br /> description, shall not invalidate the certificate. <br /> • <br /> • <br /> City of Mounds View <br />