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ORDINANCE NO. 1017 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA AN ORDINANCE AMENDING SECTIONS 7.04 AND 7.05 OF THE CITY OF MOUNDS VIEW CHARTER PERTAINING TO TAXATION AND FINANCES THE CITY OF MOUNDS VIEW ORDAINS: Section 1. Backlzround; findings; authority. 1.01. The city of Mounds View ("City") is governed by a home rule charter (the "City Charter"), adopted pursuant to the Constitution of the State of Minnesota and Minnesota Statutes, chapter 410 (the "Act"). 1.02. The Mounds View Charter Commission has proposed the adoption of an amendment to section 7.04 and 7.05 of the City Charter (the "Amendment") and recommended to the City Council that the Amendment be adopted by ordinance in the manner prescribed by section 410.12, subdivision 7 of the Act. 1.03. A public hearing on the Amendment was held on September 3, 2024 by the Mounds View City Council after published notice containing the text of the Amendment, as required by the Act, and all persons desiring to be heard with reference to the Amendment were heard at said public hearing. 1.04. The Mounds View City Council finds and determines that it is in the best interests of the City and its inhabitants that the Amendment be adopted. Section 2. Adoption; effective date; filing. 2.01 The Mounds View City Charter is hereby amended by adding the double -underlined language and deleting the str-ieken language as follows: Section 7.04 Submission of Budget, Subdivision 4, be modified in part for the following lines: Five -Year Plan: Council -Approval May L9-te4offe 1 July I S to August 1 Five -Year Plan: Published to Public J*ne i—t�..Pt--1-Auaust 1 to August 15 Section 7.05 Five -Year Financial Plan, Subdivision 1, be modified in part for the following: Subdivision 1. The Council shall have prepared a five-year (5-year) financial plan commencing with the ensuing calendar year. The Council shall hold a public hearing upon at least ten (10) days' posted and published notice in the City's official newspaper and, if available, the City website and shall then adopt the five-year (5-year) financial plan, with or without amendment, by Jbi+-_4Au ust 1 of each year. The financial plan shall consist of at least the following three (3) elements as specified in subdivisions 2 through 4 which follow: (Amended 2010 o 839.)