Except as otherwise provided, no obligation can be issued to pay current expenses, but the council can issue and sell obligations for any other municipal purpose according to law. Except for obligations for which an election is not required by this charter or state law, no obligation can be issued and sold without the approval of a majority of registered voters of the city voting at a general or special election.
(Section 7.13 amended September 13, 1988 by Special Election; Ord. 2004-8, passed 4-5-2004)