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generally retained in this article. Regular elections remain in November of each odd-numbered year. The number of wards in the Ci ty remains at three. Any future change in the number of wards would be accomplished only by an amendment to the Charter. Article 7 InitiativE!, Referendum, and Recall: This article reserves to the voters the power to initiate and vote on proposed ordinances, and the power to require adopted ordinances to be referred to a public vote . Five percent of the total number of registered electors must sign an initiative petition, and two and one-half percent of the total number of registered electors must sign a referendum petition. This article also reserves to the voters the power to recall the Mayor or any Councilmember. Article 8 City MSLnager: This article establishes the qualifications and functions of the City Manager, and addresses the relationship of the City Council and the City Manager. The article also provides for the City Manager's appointment of the City Clerk and City Treasurer. It specifies that no person shall interfere in the Clerk I s Charter responsibility to serve as an independent and neutral election official. Article 9 - Legal and .Judiciary: This article provides for the qualifications and functions of the City Attorney, the City Prosecutor, and the Municipal Court. Article 10 - Boards and Commissions: This article specifies that certain boards and commissions shall not be abolished, and permits removal of board and commission members during their term only for cause. The article provides for other matters in relation to boards and commissions. It also provides for the establishment of short-term task forces and committees by resolution. Article 11 - Finance, Budget, and Audit: This article sets out the procedures for the adoption of the annual budget. In addition to the proposed buds:ret, the City Manager is also required to submit a five-year capital projects program. At least one public hearing must be held on the proposed budget and capital projects prQl3ram. Each department head is required to keep the City Manager advised of any financial irregularities in the department. An annual financial audit is required. Article 12 Municipal Borrowing and Taxation: This article addresses debts and taxation. The article establishes a debt ceiling. The City will be required to obtain voter approval before incurring debt. Voter approval will also be required for any new tax or tax rate increase. All applicable constitutional requirements for tax and debt matters, such as the Taxpayer's Bill of Rights or "TABOR II' (Article X, Section 20 of the Co;Lorado Constitution) continue to apply to the City. Lease-purchase agreements, except those pertaining to water rights acquisition, 7