73-16 Establishing New Funds - Laserfiche WebLink

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Section 2-170.17. EquipmentNehicle Leasing Fund. The EquipmentNehicle Leasing Fund o 750) is established to account for the issuance of capital lease debt obligations and the lease purchase of computers, vehicles and other equipment. Section 2- 170.18. Parks Bond Capital Fund. The Parks Bond and Capital Fund (No. 75 1) is established to account for the issuance of bonds proceeds to be used for park repairs and improvements. Section 2- 170.19. South Bend Redevelopment Authority Fund. The South Bend Redevelopment Authority Fund (No. 752) is established to account for lease rental payments from the City and the payment of debt service to bondholders through trust agreements and financial institutions. Section 2- 170.20. Smart Streets Bond Capital Fund. The Smart Streets Bond Capital Fund (No. 753) is established to account for capital expenditures in connection with the conversion of one -way streets to two -way streets in the downtown area. Funding is provided by proceeds from a Redevelopment Authority bond. Section 2- 170.21. Industrial Revolving Fund. The Industrial Revolving Fund (No. 754) is established to account for revenue and expenditures in providing_ loans to qualifying local companies. Financing was originally provided by an Economic Adjustment Assistance Grant from the U.S. Department of Commerce. Section 2- 170.22. South Bend Building Corporation Fund. The South Bend Building Corporation (Fund No.755) is established to account for debt retirement of the Building Corporation's mortgage Bonds. Funding provided by transfers from City funds. Section 2- 170.23. Smart Streets Debt Service Fund. The Smart Streets Debt Service Fund (No. 756) is established to account for debt retirement of the 2015 Redevelopment Authority bonds for conversion of one -way streets to two -way streets in the downtown area. Funding is provided by transfers from the River West Tax Increment Financing Fund. Section 2- 170.24. Parks Bond Debt Service Fund. The Parks Bond Debt Service Fund (No. 757) is established to account for debt retirement of the 2015 Building Corporation/EDIT bond for parks improvements. Funding is provided by transfers from other City funds.