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person in the employ of the city for any purpose not authorized in the budget <br />resolution, or for any amount in excess of the amount authorized, shall be a <br />personal obligation upon the person incurring the obligation. No check shall <br />be issued or transfer made to any account other than one owned by the city until <br />the claim to which it relates has been supported by an itemized bill, payroll, <br />or time sheet or other document approved and signed by the responsible city <br />officer who vouches for its correctness and reasonableness. <br />Sec. 7.08. Alterations in the Budget. After the budget resolution has been <br />adopted, the council shall not increase the amounts -fixed in the resolution beyond <br />the estimated receipts except to the extent that actual receipts exceed the <br />estimate. At anytime the council may, by resolution approved by a majority of <br />its members, reduce the sums appropriated for any purpose by the budget resolution, <br />or authorize the transfer of sums from unencumbered balances of appropriations in <br />the budget resolution to other purposes. <br />Sec. 7.09. Funds. There shall be maintained in the city treasury a general <br />fund and such other funds as may be required by state law, ordinance, or resolution. <br />The council may, by resolution or ordinance, make inter -fund loans, except from <br />trust and agency funds, as it may deem necessary and appropriate. <br />Sec. 7.10. City Indebtedness. <br />Subdivision 1. Except as provided in sections 7.11 and 7.12, no obligation <br />shall be issued to pay current expenses, but the council may issue and sell ob- <br />ligations for any other municipal purpose in accordance with state law and within <br />the limitations prescribed by law. Except in the case of obligations for which <br />-22- <br />