Laserfiche WebLink
anticipate any additional Revenue Sharing money but will maintain <br />the Fund until all revenues have been expended. The majority of <br />these Revenue Sharing funds was expended for capital improvements <br />as opposed to recurring expenditures. <br />The Economic Development Fund accounts for the revenue and <br />exgenditures used to promote economic development in the City. <br />The Community Development Block Grant fund <br />revenues and expenditures associated with <br />awarded to the City through Ramsey County. <br />Debt Service Funds <br />accounts for the <br />the block grants <br />These funds are used for the payment of general obligation and <br />tax increment bond principal and interest. Property taxes, <br />assessments to benefited properties, state aid and tax increments <br />provide the necessary revenue. The City has $395,000 in general <br />obligation bonds, $11,505,000 in general obligation improvement <br />bonds, $2,225,000 of general obligation state highway bonds, and <br />$22,720,000 in general obligation tax increment bonds outstanding <br />at the end of 1987. <br />Capital Pro;e� cts Funds <br />Capital projects funds are used to account for financial <br />resources used £or the acquisition of capital facilities and <br />equipment. <br />The Permanent Improvement Fund accounts for expenditures made <br />during the construction, renovation or installation of facilities <br />of a permanent nature. Revenue to finance these improvements <br />came from general property taxes, interest and inter-governmental <br />revenue. Expenditures of $551,138 were made from this fund in <br />1987. <br />The Equipment Fund accounts for the purchase of heavy machinery <br />and other motorized type equipment. Revenue for the financing of <br />this eguipment comes from the user department, interest, inter- <br />governmental revenue, and property tax. 1987 expenditures made <br />from this fund were $169,858. <br />The State Grant Recreation Fund accounts for monies to be used <br />for the acquisition of land and the development of parks. <br />The Minnesota State Aid fund accounts for revenues and <br />expenditures which are to be used for the construction and <br />reconstruction of projects to be funded with State Aid monies. <br />The Infrastructure Replacement fund accounts for revenues and <br />expenditures related to replacement of public improvements which <br />are being primarily funded from a special tax levy. <br />The Special Assessment Construction fund accounts for all monies <br />which are directly associated with public improvements funded <br />7 <br />