Except as provided in Sec. 7.13 and 7.14, debt issued pursuant to Minnesota Statutes Chapter 429, Capital Note debt, revenue bonds or debt for the construction of public facilities that are necessary for the essential functions of the City, no obligations shall be issued to pay current expenses but the Council may, when authorized to do so by a majority of the electors of the City voting thereon at a general or special election, issue and sell obligations for any other municipal purpose in accordance with law and within the limits prescribed by law.
(Ord. 08-29, passed 12-8-2008)