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� •r� � y.a�.:z►� <br />TAXATION AND FINANCE� <br />Sec�ion 7.01. Council to control finances. <br />The council shall have full authority over the financial a�airs of the city. It shall <br />provide for the collection of aIl revenues and other assets, the aaditing and settlement of <br />accounts, and the safekeeping and disbursement of public moneys. <br />Section 7.02. Fiscal year. <br />The fiscal year of the city shall be the calendar year. <br />Section 7.03. System of taxation. <br />Subject to the state constitution, and except as forbidden by it or by state law, the <br />council shall have full power to provide by ordinance for a system of local taxation. This <br />authority includes the power by ordinance to assess, levy, and collect taxes on all subjects <br />or objccts of taxation except as limited or prohibited by the state constitution, by this <br />charter or by laws imposing restrictions upon the ci#y irrespective of charter provisions. <br />Section 7.04. Submission of budget. <br />Annually the city manager shall submit to the council his or her recomrrzended <br />budget in accordance with a budget calendar to be esfablished by ordinance or, in the <br />absence of ordinance, by September 1. <br />0920UO.doc 22 <br />