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Stormwater Utility Î this fund accounts for customer stormwater service charges that <br />are used to finance the stormwater system expenses. <br /> <br />Street/Capital Improvement Î this fund is used to account for various improvement <br />projects that cannot be easily financed by alternative revenue sources. <br /> <br />Tax Abatement - a development tool used to reimburse the city for public infrastructure <br />costs incurred for economic development purposes. <br /> <br />Trunk Utility Î this fund is used on trunk water and sewer improvement projects for <br />which assessments were collected. These funds would be used in lieu of having to <br />issue bonds on future system expansion/improvements. <br /> <br />External Sources: <br />Developers Î public infrastructure improvements that are financed by developers with <br />the approval of new developments. <br /> <br />Equipment Certificates Î these notes can be used to purchase capital equipment <br />having an expected useful life at least as long as the term of the notes. The notes are <br />backed by the full faith and credit of the City and are subject to the cityÓs debt limit. <br /> <br />ERMU Î a portion of project costs that are paid by Elk River Municipal Utilities. <br /> <br />Federal Grants Î grants received from federal agencies approved by the City Council. <br /> <br />MnDot Î a portion of public works improvement costs on state-aid roads are paid by the <br />Minnesota Department of Transportation. <br /> <br />Municipal State Aid Î money received from the state for street construction projects. <br />State aid allotments for street construction are based on population and fiscal need. <br /> <br />5 <br />