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Mounds View Charter Commission Date: July 11, 2006 <br /> Resolution 2006-08 Chapter 7, Section 7.10 Page2 of 2 <br /> • <br /> CHAPTER 7 <br /> TAXATION AND FINANCES <br /> Section 7.10. City Indebtedness. <br /> Subdivision 1. Except as provided in Sections 7.11 and 7.12,no obligation shall be issued to <br /> pay current expenses,but the Council may issue and sell obligations for any other municipal purpose in <br /> accordance with state law and within the limitations prescribed by law. <br /> All such obligations <br /> shall be issued and sold Q> _witheut the approval of the majority of the voters voting on the question at <br /> a general or special election, unless exempted by State law for charter cities or by this Charter. <br /> Subdivision 2. A description of each such proposed issue shall be published in the official City <br /> newspaper,the City Newsletter, and, if available,the City web site, but failure to give such description, <br /> or any defect in the description, shall not invalidate the issue. <br /> • <br /> • <br /> • <br /> City of Mounds View <br />