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<br />01/22/2018 <br />FRIDLEY CITY CHARTER <br />CHAPTER 7. TAXATION AND FINANCES. <br /> <br />Section 7.01. COUNCIL TO CONTROL FINANCES. <br /> <br />The Council shall have full authority over the financial affairs of the City, and shall provide for the <br />collection of all revenues and other assets, the auditing and settlement of accounts, and the <br />safekeeping and disbursement of public moneys. In the exercise of a sound discretion it shall make <br />provisions for the payment of all liabilities and expenses. The Council shall establish the fiscal year <br />for the City. <br /> <br />Section 7.02. POWER OF TAXATION. <br /> <br />1. The City shall have, in addition to the powers by this Charter expressly or impliedly <br />granted, all the powers to raise money by taxation pursuant to the laws of the State which <br />are applicable to cities of the class of which it may be a member. The amount of taxes <br />levied against real and personal property within the City for general City purposes shall not <br />exceed five percent (5%) more than the prior year tax levy. Moreover, if necessary, the tax <br />levy may be increased up to an additional three percent (3%) with an affirmative vote of at <br />least four members of the Council. (Ref. Ord. 592, 1102, 11/7/00 Amendment, and Ord <br />1345) <br /> <br />Nothing in this provision shall be construed to impair any general obligation the City may <br />have in support of otherwise lawful indebtedness or similar obligation supported by the full <br />faith and credit of the City, provided, however, that long-term, general obligation <br />indebtedness shall not be used for the purpose of funding the routine and daily business <br />operations of the City. (Ref Ord 1152) <br /> <br />2. The City Council may also levy a tax against real and personal property within the City in <br />addition to said limit as defined in paragraph 1 provided the Council shall: <br /> <br />A. Adopt a resolution declaring the necessity for an additional tax levy and specifying <br />the purposes for which such additional tax levy is required. <br /> <br />B. Hold a public hearing pursuant to three (3) weeks' published notice in the official <br />newspaper of the City setting forth the contents of the resolution described in <br />Subdivision A. <br /> <br />C. Adopt after such public hearing a resolution by an affirmative vote of a least four (4) <br />members of the Council which shall be presented as a clear and concise 'plain <br />language' ballot question at the next regular municipal election. (Ref. Ord. 592, <br />1102 and 11/7/00 Amendment) <br /> <br />D. The additional tax levy shall take effect if 51% of the votes cast at said election are <br />in favor of its adoption.