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(Draft January 2002) Key Financial Strategies <br /> For Elk River <br /> <br />Storm Sewer <br />System <br /> <br />The City builds and maintains facilities for the collection <br />and management of surface water/drainage. <br /> <br />The City does not currently have a long-term improvement <br />or funding plan for the storm sewer system. <br /> <br />Timing NA <br />Estimated Cost NA <br /> <br />Funding <br /> <br />The City has established a capital projects fund for Storm <br />Sewer Projects. At the end of 2000, the fund contained a <br />balance of $312,227. <br /> <br />No on-going source of revenue has been dedicated to storm <br />sewer improvements. <br /> <br />The current situation does not allow the. City to borrow <br />money to finance storm sewer improvements. Debt options <br />for storm sewer improvements include: <br /> <br />Improvement bonds or permanent improvement revolving <br />fund bonds if not less than 20% of improvement costs are <br />assessed. <br />Bonds supported by taxes collected within a storm sewer <br />improvement district. <br />Bonds supported by revenues of a storm sewer utility. <br /> <br />Page <br /> 55 <br /> <br /> <br />