2004 Performance Based Budget - Laserfiche WebLink

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reimbursement basis. Funding is provided by assessments to certain other City funds. CAPITAL /DEBT SERVICE FUNDS: Re eve. o ment Bond - Stude _ _ p baker Corridor - To accumulate monies for payment of Redevelopment District general obligation bonds which are serial bonds due in semiannual installments through 2006. Financing is provided by an annual property tax levy. R develo ment Bond - Colle e Football Hall of Fame - To accumulate monies for payment of Redevelopment District lease rental revenue bonds. The refunding bonds are payable as to principal and interest from the rental payments under a lease between the Redevelopment Authority (as lessor) and the Redevelopment Commission (as lessee). The Commission is obligated to make lease payments semiannually, to make an annual appropriation and levy a tax at a rate to provide sufficient money to pay such lease payments from unlimited ad valorem taxes. These lease payments will be used to pay the principal and interest due on these outstanding bonds through 2018. College. Football Hall of Fame (transfer) - To accumulate the Hotel/Motel Tax Funds and Professional Sports Development Funds that are designated to be used by the College Football Hall of Fame. These funds will be transferred to the National Football Foundation (NFF) once an agreement is finalized between the City and the NFF that calls for the NFF to take over the responsibility for operational costs for the Hall of Fame. Ultimately these funds will be used for operations and capital needs at the Hall. Count, r~O,ption Income Tax - To accumulate monies for payment of expenditures relating to various programs/projects such as public safety enhancement, economic development infrastructure, public works improvements, neighborhood improvement programs and other similar projects. Financing is provided by the City's share of the County Option Income Tax. Cumulative Capital Development - To account for expenditures relating to the purchase or lease of capital improvements in the City. Financing is provided by a specific property tax levy. Cumulative Ca ital Im rovement - To account for state cigarette tax distributions used for improvement projects or for the payment of debt incurred for improvements to City property. Economic Development Income Tax - To accumulate monies for payment of expenditures relating to various programs/projects such as Economic Development Administration grants, neighborhood development, municipal facility development, community facility development, early bond retirement funding, economic development projects and other similar projects. Financing is provided by the City's share of the Economic Development Income Tax. Emerg_ency Medical Services Capital - To account for purchases and maintenance of necessary equipment for the Fire Department and Emergency Medical Services Department. Financing is provided by ambulance fees. Morris Performing Arts Center Capital - To accumulate monies for major repairs and capital B-i6