Subdivision 1. Except as provided in Section 7.11 and 7.12, no obligation shall be issued to pay current expenses, but the Council may issue and sell obligations, including certificates of indebtedness pursuant to M.S. § 412.301; for any other municipal purpose in accordance with state law and within the limitations prescribed by law. No such obligation shall be issued and sold without the approval of the majority of the voters voting on the question at a general or special election except in the case of obligations for which an election is not required by this Charter or by state law.
(Amended)
Subdivision 2. A description of each such obligation shall be published in the official newspaper.
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