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Section 7.12.I ~me~gency Debt Certificates. <br /> <br /> 7.12oI0io ~f in any year the receipt from taxes or other sources, should <br /> <br />for some unforseOnl, eagse, become insufficient for the ordinary expenses of the city, <br /> [ <br />or if any calamityI or iother public emergency necessitates the making of extraordinary <br />expenditures, the ~ougcil may by ordinance issue, on such terms and in such manner <br /> <br />as the council de~erm~nes,; ~ emergency debt certificates to run not in excess of three years. <br /> <br />A tax sufficient:ho p~y principal and interest on such certificates with the margin <br />required by law 8~allibe levied as required by law. The ordinance authorizing the <br />issue of the emer~ene~ debt certificates shall stage the nature of the emergency <br />and be approved b~ at least four members of the council. It may be passed by <br />emergency ordinance a~ defined in Section 3.06. except that the ordinance shall be <br />enacted by a g/5 ~oge! of the Council. <br /> <br /> 7.12.02. i~ deseript±on of each such proposed oertif±eate shall be <br /> <br />published in tho ~lt~ newsletter, but failure go publish such description, or any <br />defect in the d~s~}ription, shall not invalidate the certificate. However, <br />corrections shall beipublished at the earliest practical time. <br /> <br />pg.7-7/7 <br /> <br /> <br />