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CITV (1F RCICEVILLE <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31 1997 <br />Note I1 Interfunl Trancfer� <br />p� y�e �per�d from one fiud to support expenditwes of other funds in accordance wi�h die authoriry established for each individual <br />fund. Trar�fers within furd types have been etimiruted. Transfers between fund types during the year ended December 31, 1997 were: <br />General <br />gpecial Revenue <br />Debt Service <br />Capital Projec[s <br />Agency " <br />Totals <br />Transfers-out <br />$ I55,751 <br />113,886 <br />890,000 <br />�,l 159 637 <br />Transfers-in <br />� 965,751 <br />80,000 <br />11 <br />115967 <br />*Ager�cy Furds report only changes in assets ard tiabilities. Consequently, this transfer-in is not reported in [he General Purpose Financial <br />Statements and must be added to reconcile operating [ransfers-in and ouc. <br />Nore 1� Industrial Revenue Bond� <br />From time ro time, the City has issued Tndus[rial Revenue Bonds ro provide financial assistance [o private-sector enti6es for the <br />acquisi[ion and coastruction of industrial and commercial tacilities deemed to be in the public interest. The bonds are secured by the <br />property finarced ard are payabte solely from paymen[s received on die underlying mortgage loans. Upon repayment of ehe bonds, <br />owr�rship of the acquired facilities [ransfers to the private-sector entiry served by the bond issuarx e. Neither the Ciry, [he S[ate, nor <br />any political subdivision thereof is obligated in any manner for repayment of the bonds. Acwrdingly, the bonds are not reponed as <br />liabilities in rhe accompanying financial statemen[s. As of December 31, 1997 there were nine series of Industrial Revenue Bonds <br />outstanding, with an aggregate principal an�ount payable of 573.3 million. <br />45 <br />