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Mounds View Charter Commission Date: February 10, 2004 <br /> Charter Updates; Category 2 Items; Chapter 7 <br /> Revision—FINAL Page7 of 7 <br /> other sources should for some unforeseen cause become insufficient for the ordinary <br /> expenses of the City, or if any calamity or other public emergency necessitates the making <br /> of extraordinary expenditures,the Council may by ordinance issue,on such terms and in <br /> such manner as the Council determines, emergency debt certificates not to exceed 10%of <br /> the total City budget and to run not to exceed three years. AgTaxe,s sufficient to pay <br /> principal and interest on such certificates with the margin required by law shall be levied as <br /> required by law. The ordinance authorizing the issue of such emergency debt certificates <br /> shall state the nature of the emergency and be approved by at least three members of the <br /> Council. It may be passed as an emergency ordinance. <br /> A description of each such proposed certificate shall be published in the City Newsletter,- <br /> .. : _ , : . , <br /> certificate. Subdivision 2 <br /> 111 <br /> City of Mounds View <br />