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General Governmental Revenues A broad category of revenues that include all fund except proprietary funds General Obligation Bonds (Debt) Bonds that are backed by the full faith and credit of the City. GFOA Government Finance Officers Association General Plant Improvements Replacement of non - vehicular equipment that has been purchased for general governmental use. Gross Profit The difference between sales and the cost of sales Gross Revenue The total revenue that an entity receives before any expenses are subtracted. I -Net The channels of a cable television coaxial cable that are dedicated for governmental and educational use. (Institutional Network) Interest Rate Risk The risk that the market value of an investment will decline due to changes in interest rates. Internal Service Funds A fund used to account for goods or services provided by one department for another departments. The budgets for internal service funds are included with the funds they service. The City of Roseville internal service funds are Worker's Compensation Self - Insurance, Long Term Disability, and Risk Management. Lawful Gambling Charitable gambling done by non - profit organization that is regulated by the State of Minnesota and the City of Roseville. The City of Roseville taxes gross revenues at 3% and gross profits at 10 %. Legal Debt Limit The maximum amount of debt a municipality may incur. It equals two percent of the market value of the taxable property in the municipality. Some debt such as special assessment bonds and tax increment bonds is excluded. See page V -3 for a complete listing of debt exclusions. Legal Debt Margin The difference between the legal debt limit and the debt that counts toward the legal debt limit. In other words, the amount of debt that a municipality may issue before it reaches its legal debt limit. Levy (1) Verb: To impose taxes, special assessments, or service charges for the support of government activities. (2) Noun: The total amount of taxes, special assessments, or service charges imposed by government. License Center An office of the Deputy Registrar of Motor Vehicles operated by the City of Roseville on behalf of the State of Minnesota. They issue registrations for automobiles, snowmobiles, and all watercrafts. They also issue licenses for driving, hunting, fishing, and skiing. Market Value The value of an asset determined by its supply and demand. Net Tax Capacity (NTC) "Net tax capacity" means the market value of real and personal property multiplied by its net tax capacity rates. VI -12