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Mounds View Charter Commission Date: May 3, 2006 Charter Updates; Category 3 Items; Chapter 7 Revision— Draft 20060502 Page3 of 3 87 This Subdivision and Section shall not limit or impair the City's ability to create Tax Increment 88 inn in. •r - - 'n • D- -1•. -n A. --m- .- if-. • -_ 4.' 4 • 4.' " 89 This Subdivision shall not require the City to divest or expend .nv excess of any reserve fund(s 90 .rr- 1 -x --.in' . . ifi-. lim' _.r• '.-. - • .n i .i 'i '1 .. . ..•s h' . - '•n 91 designates • resolution the purpose of the reserve or adopts a modified Five Year Financial Plan 92 reflecting the reserve purpose. 93 94 •.i ion si.• hin. in - '•n ,.11 .- • r.-. • iu ..ir . .-..-r.l •._'', i•i_ 95 the City may have in support of otherwise lawful indebtedness or similar obligation supported b the 96 Al f.' h . . -Si •_ - i_ .r• ..-. is - -r . l•._.- _.-r-r,1 as i'. '•n i .-• -• _- 97 h.11n• •- -. for - ._r.•. of .n.in' h- e . in- ,no ,i1 . . i - •.- . ill of - 98 99 . ..ivi is . s in. i hi - is h.11 .- • r.-. • ' i • im..ir h- • -r of • . . 100 . _r• , .- i i•.in' f• . r-f-r-n. .u in . sr.,. - h m- he in i.. - • ._•.• ,n •_ 101 h- _•l • . 'n' _• 1- •r -- • -w ' r-.. - •r . r-.. - .n -xi_ it. • -. . _ . - i . '• •_ .n ,. 102 levy.fee. or other method used b i f r rai in m n 103 104 Section 7.04. Submission of Budget. (no changes) 105 106 Section 7.05 Five-Year Financial Plan. (no changes) 107 108 Section 7.06. Council Action on Budget. (no changes) 109 110 Section 7.07. Enforcement of the Budget. (no changes) 111 112 Section 7.08. Alterations in the Budget. (no changes) 113 114 Section 7.09. Funds. (no changes) 115 116 Section 7.10. City Indebtedness. 117 118 Subdivision 1. Except as provided in Sections 7.11 and 7.12,no obligation shall be issued to 119 pay current expenses, but the Council may issue and sell obligations for any other municipal purpose in 120 accordance with state law and within the limitations prescribed by law. Except in the case of 121 obligations for which an election is not required by this Chapter or by state law, no such obligations 122 shall be issued and sold without the approval of the majority of the voters voting on the question at a 123 general or special election. 124 125 Subdivision 2. A description of each such proposed issue shall be published in the official City 126 newspaper,the City Newsletter, and, if available,the City web site, but failure to give such description, 127 or any defect in the description,shall not invalidate the issue. 128 129 Section 7.11. 1. Anticipation Certificates. (no changes) 130 131 Section 7.12. Emergency Debt Certificates. (no changes) City of Mounds View