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Section 7.13. Emergency debt certificates. <br />If in any year the receipts from taxes or other sources should from some unforeseen cause <br />become insufficient for the ordinary expenses of the city, or if any calamity or other public <br />emergency necessitates the making of extraordinary expenditures, the council may by ordinance <br />issue on such terms and in such manner as the council determines emergency debt certificates to <br />run not to exceed three years. A tax sufficient to pay principal and interest on such certificates <br />with the margin required by law shall be levied as required by law. The ordinance authorizing an <br />issue of such emergency debt certificate shall state the nature of the emergency and be approved <br />by at least five members of the council. It may be passed as an emergency ordinance. <br />• <br /> <br />