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Mounds View Charter Commission Date: May 12, 2005 <br /> Charter Updates; Category 2 Items; Chapter 7 <br /> • Revision— Current language as modified by previous Commission actions Page7 of 7 <br /> should for some unforeseen cause become insufficient for the ordinary expenses of the City, <br /> or if any calamity or other public emergency necessitates the making of extraordinary <br /> expenditures,the Council may by ordinance issue,on such terms and in such manner as the <br /> Council determines, emergency debt certificates not to exceed 10% of the total City <br /> budget and to run not to exceed three years. Taxes sufficient to pay principal and interest on <br /> such certificates with the margin required by law shall be levied as required by law. The <br /> ordinance authorizing the issue of such emergency debt certificates shall state the nature of <br /> the emergency and be approved by at least three members of the Council. It may be passed <br /> as an emergency ordinance. <br /> • <br /> • <br /> City of Mounds View <br />