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Debt Service Funds <br /> Debt Service funds are a type of governmental fund to account for the accumulation of resources for the payment of <br /> interest and principal on debt(other than enterprise fund debt). <br /> Debt Service funds may have one or a combination of the following revenue sources pledged to retire debt as follows: <br /> • EDRSEID taxes-Primarily for general City benefit pr ) is such as parks and municipal buildings. Property taxes <br /> may also be used to fund special assessment bonds which are not fully assessed. <br /> • Tax increments-Pledged exclusively for tax incrementfeconomic development districts. <br /> After the sale of bonds,the project may not produce revenue(tax <br /> increments or special assessments)for a period of one to two years. Bonds are issued with this timing difference <br /> considered in the form of capitalized interest. <br /> Special assessments-Charges to benefited properties for various improvements. <br /> In addition to the above pledged assets, other funding sources may be received by Debt Service funds as follows: <br /> • Residual project proceeds from the related capital projects fund <br /> • Investment earnings <br /> • State or federal grants <br /> • Transfers from other funds <br /> Peolk <br /> G1011119 <br /> 154 <br />