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I <br />I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> 7,10.02. A description of each such proposed issue shall be published <br />in the city newsletter, but failure to publish such description, or any defect in <br />the description, shall not invalidate the issue. However, corrections shall be <br />published at the earliest practical time. <br /> <br /> Section 7.11. Anticipation Certificates. At anytime after January 1, the council <br />may issue certificates of indebtedness in anticipation of state and federal aids <br />and the collection of taxes levied the previous year for any fund and not yet <br />collected. The total amount of certificates issued against any fund for any year <br />together with interest thereon until maturity shall not exceed 90% of the total <br />state and federal aids and current taxes due to the fund and uncollected at the <br />time of issuance. Such certificates shall be issued on such terms and conditions <br />as the council' may determine, but they shall become due not later than April 1 of <br />the year following their issunace. The proceeds of the tax levied and such state <br />or federal aids as the governing body may have allocated for the fund against which <br />tax anticipation certificates are issued, and the full faith and credit of the <br />city shall be irrevocably pledged for the redemption of the certificates. <br /> <br /> Section 7.12. Emergency Debt Certificates. <br /> <br /> 7.12.01. If in any year the receipt from taxes or other sources should <br />from some unforseen cause become insufficient for the ordinary expenses of the city, <br />or if any calamity or other public emergency necessitates the making of extraordinary <br />expenditures, the council may by ordinance issue, on such terms and in such manner <br />as the council determines, emergency debt certificates to run not exceed three years. <br />A tax sufficient to pay principal and interest on such certificates with the margin <br />required by law shall be levied as required by law. The ordinance authorizing the <br />issue of the emergency debt certificates shall state the nature of the emergency <br /> <br />and be approved by at least three members of the council. It may be passed by <br />emergency ordinance, pg.7-6/2 <br /> <br /> <br />