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Mounds View Charter Commission Date: October 14, 2004 • Charter Updates; Category 2 Items; Chapter 7 Revision—Draft 10 Page6 of 7 purpose not authorized in the budget resolution,or for any amount in excess of the amount authorized, shall be a personal obligation upon the person incurring the obligation. No check shall be issued or transfer made to any account other than one owned by the City until the claim to which it relates has been supported by an itemized bill,payroll,or time sheet or other document approved and signed by the responsible City officer who vouches for its correctness and reasonableness. Section 7.08. Alterations in the Budget. After the budget resolution has been adopted,the Council may amend the budget by resolution, but shall not increase the amounts fixed in the resolution beyond the sum of estimated receipts and reserves, except to the extent that actual receipts exceed the estimate or to implement Section 7.12 herein. At anytime the Council may;by resolution appfeved by a majority of its members,reduce the sums appropriated for any purpose by the budget fir, to increase reserves or authorize the transfer of sums from unencumbered balances in the budget. --. . • . • -- .•. :. The Council must ... • . 1 .0 - • •. 4 • -. • �• •. •-4. --1 •-..r ••-• . - • . ••• •- Clerk-A. n'ni . •r m, tra -r .i he . • .n i. ...r• .1 .m .- . --n - m.'• h._. -r I -x•- •i - with'n • .-•.rtm-n Th- t- •, m-n h-.s m, r.i _-r,with 4110 items within the department. Section 7.09. Funds. (no changes) Section 7.10. City Indebtedness. Subdivision 1. Except as provided in Sections 7.11 and 7.12,no obligation shall be issued to pay current expenses,but the Council may issue and sell obligations for any other municipal purpose in accordance with state law and within the limitations prescribed by law. Except in the case of obligations for which an election is not required by this Chapter or by state law,no such obligations shall be issued and sold without the approval of the majority of the voters voting on the question at a general or special election. Subdivision 2. A description of each such proposed issue shall be published in the official City newspaper,the City Newsletter,and, if available,th C'ty w b it ,but failure to give such description,or any defect in the description, shall not invalidate the issue. Section 7.11. 1. Anticipation Certificates. At anytime after January 1, in accordance with MN Statute 412.261,as amended, with the following restrictions; 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 City of Mounds View