§ 10.2 LIMITS OF BORROWING AUTHORITY.
   (a)   Bonded indebtedness. The net bonded indebtedness incurred for all public purposes shall not exceed the maximum amount permitted by state law and shall be calculated in accordance with state law.
   (b)   Calamity borrowing. In the event of tire, flood or other calamity, the city may increase borrowing in accordance with state law.