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O~#DINpNCE N0.782 <br />CITY OF MOWNDS YIEW' <br />COtMITY OF RAMSEY <br />STATE OF MINNESOTA <br />AN ORDINANCE pM~N{>!IkB 111E <br />it~UNDS YIEYII Cil'Y CFIARTEII <br />BY AtiOENDINCi SECTION 7.10 OF '~1E <br />CITY GHAR'TER <br />THE. GTY OF pI10tINPS,.wf~T!- ~~ <br />HEREBY ORDAtN: - <br />SECTION 1. The CityCbuncil of the City <br />of Mounda View,. putsuant Ito the <br />recommendation of the City of Mounds <br />View Charter Commission, hae hereby <br />determined that Section 7.1 U, of the Gay <br />Charter be amended by the addition of <br />the bold and .'.double-underlined <br />language and by the deletion of the lleli <br />an~FaMekew language as tolbws: <br />Section 7.10: L'ity indebtedness <br />Subdivision 1. Except as provided in <br />Sections 7.11 and' 7:12, n0 obligatlon <br />shall be issued to pay current expenses, <br />but the Council may issue and seal <br />obligations for any other municipal <br />purpose in arxordance with state (aw and <br />within the Iimitatione prescrWed by law,. <br />such obligat~rrs shah ba issued and sold <br />only witl»ME the approval of the majority <br />of the voters. voting on tl~e question at a <br />general or special election, exospt in tlta <br />case of obligations for which an <br />eleotton h exernptsd by this Chatter or <br />by state law.. - <br />5ubdivis~ 2. A descrl~on of each <br />such proposed iesu9 :be PUbtahed <br />in Nre o~ie-I. Cjb+ , rreweprapey <br />avMleble'th® CIry, N~rslaney <br />~wWalMer the Oqr wear, site, but faire to <br />give sUCti description, or airry defecYrtnthe <br />description; sliaN rat kwaGdaRe the, issue. <br />SECTION 2. This ordNtsnce shah tale <br />effect ninety days attar the date of its <br />publication. , <br />Reed 4y the" City Council of. the City of <br />Mounds Vfew on this 11th day of <br />December,- 2006. <br />Read and passed by the Oily Courral of <br />the City of Mounds View on this 8th day. <br />of January, 2007. <br />- Rob Manly, Mayor <br />ATTEST <br />Kurt Ulrich, Cily Clerk-Admin~trator <br />(Bulletin: Jan. 17, 2007) <br />