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ORDINANCE NO. 772 CITY OF MOUNDS VIEW COUNTY OF RAMSEY STATE OF MINNESOTA AN ORDINANCE AMENDING THE MOUNDS VIEW CITY CHARTER BY AMENDING CHAPTER 7 OF THE CHARTER RELATING TO TAXATION AND FINANCES THE CITY OF MOUNDS VIEW DOES HEREBY ORDAIN: SECTION 1. The City Council of the City of Mounds View, pursuant to the recommendation of the City of Mounds View City Charter Commission, has hereby determined that Chapter 7 of the Charter of the City of Mounds View relating to "Taxation and Finances" be amended by the addition of the bold and underlined language and by the deletion of the bold and stricken as follows: CHAPTER TAXATION AND FINANCES Section 7.01 Council to Control Finances. (no changes) Section 7.02 Fiscal Year. (no changes) Section 7.03 System of Taxation. (no changes) Section 7.04. Submission of Budget. Subdivision 1. Annually, on or before the 15Lh calendar day of September of each year or as specified by MN Statute 275.065, as amended, the Clerk -Administrator shall submit to the Council the budget estimates for funds levying property taxes for the ensuing fiscal year and an accompanying summary message in accordance with a budget calendar to be established by resolution. The final budget shall provide a complete financial plan for all City funds and activities for the ensuing fiscal year and except as required by state law or this Charter, shall be in such form as the Council may require. It shall include a summary and show in detail all estimated income and all proposed expenditures, including debt service and comparative figures for the current fiscal year, actual and estimated, and the preceding year. In addition to showing proposed expenditures for current operations, it shall show proposed capital expenditures to be made during the year and the proposed method of financing each such capital expenditure. The total proposed operating budget to be provided from the property tax shall not exceed the amounts authorized by state law and this Charter. Consistent with these provisions, the budget shall contain such information and be in the form prescribed by ordinance and by state law. the City Council. Subdivision 2. For each utility -enterprise operated by the City, its proposed and final budget shall show income, expenditure, and anticipated net surplus or deficit ad -with the proposed disposition method_ of disposition.; and subsidiary budgets for each s! I .....