The Council shall not have the power to make any contract with or give any official position to one who is in default to the City. Further, the Council shall not have the power to sell any park, cemetery or any part thereof, except where such park is not required under an official master plan of the City, or to engage in any business enterprise requiring an investment of money in excess of one-half percent of the assessed valuation, unless these actions are approved by a simple majority of the electors voting thereon at a regular or special election.
Unless by the affirmative vote of four Councilmen, no office shall be created or abolished, no tax or assessment shall be imposed, no street, alley or public ground shall be vacated, no real estate or any interest therein shall be sold or disposed of, no action shall be taken to condemn private property for public use, no money shall be appropriated, nor shall any vote of the Council be reconsidered or rescinded.