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ORDINANCE NO.782 CITY OF MOUNDS VIEW' COUNTY OF RAMSEY STATE OF MINNESOTA AN ORDINANCE AfiIEN{MG THE MOUNDS VIEW CITY CHARTER By AMENDING SECTION 7.10 OF 'Xf 1E CITY CHARTER THE CITY OF IYIOUNWVIAW Db( HEREBY ORDAIN: SECTION 1- The City Council Of the City of Mounds View, pursuant to the recommendation of the City of Mounds View Charter Commission, has hereby determined that Section 7.10, of the City Charter be amended by the addition of the bold and 'double -underlined language and by the deletion of the Heti an�FeMsksw language as follows: Section 7.10: C& indebtedness Subdivision i. 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.. such obligations shag ==Id and sold only wh wA the approval of the majority of the voters voting on the question at a general or special election, except in the case of obli9etions for which an election is ex*nhptedby this Chatter or by state law. Subdivision 2. A description of each such proposed issue :be published iii the oft *l. Cjbt ,new"opper, evaileble'the City. Nwaletterr la oWA@b ar the C*1 wear, site, but faiNre to give such description, or any defedinthe description; shrill not kwaliriafe the, Issue - SECTION 2. This ordinance shall tale effect ninety days after the date of its publication. Read by the City Council of, the City of Mounds View on this 11th day of December; 2006. Read and passed by the City Council of the City of Mounds View on this 8th day of January, 2007. Rob Marty, Mayor ATTEST Kurt Ulrich, City Clerk -Administrator (Bullein: Jan. 17, 2007)