Except by consent of the voters, the city voluntary floating indebtedness shall not exceed a sum equal to one-half (1/2%) percent of the current assessed valuation of taxable property within the corporate limits of the city. For purpose of calculating the limitation, however, the legally authorized debt of the city in existence at the time this charter takes effect shall not be considered. All city officials and employees who create or officially approve any indebtedness in excess of this limitation shall be jointly and severally liable for the excess.

In no event shall the city be liable in damages for an injury to person, a damage to property, or a death, caused by a defect or a dangerous condition in city, unless the city has had actual notice prior to the injury, damage, or death that the defect or condition existed and has had a reasonable time thereafter in which to repair or remove it. In no case shall more than $500 be recovered as damages for an injury, damage or death resulting from such a defect or dangerous place. No action shall be maintained against the city for damages growing out of such injury, damage or death unless the claimant first gives lawful written notice to the council within 180 days or as may otherwise be permitted by state law after the injury, damage or death is sustained, stating specifically the time when, the place where, and the circumstances under which it was sustained, and that he or she will claim damages therefore of the city in an amount which he or she specifies. But in no event shall the action be started until 30 days have elapsed after the presentation of this notice to the council.

No right or liability of the city existing at the time this charter takes effect shall be impaired or discharged by passage of this act, except as this Charter otherwise provides.

All outstanding general obligation bonds of Carlton shall continue to be the general obligations of the city according to the terms therein, and any existing serial levies for any purpose shall continue in the form adopted.

All ordinances of the city consistent with this charter and in force when it takes effect shall remain in effect until amended or repealed.

All charter provisions of the city enacted prior to the time that this charter takes effect are hereby repealed.

This charter shall take effect July 1, 2006.