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Capita/Zrnprovement Planning -June 11, 2001 <br /> <br />The City builds and maintains facilities for the collection and <br />management of surface water/drainage. <br /> <br />The City does not currently have a long-term improvement or funding <br />plan for the storm sewer system. <br /> <br />NA <br />NA <br /> <br />The City has established a capital projects fund for Storm Sewer <br />Projects. At the end of 2000, the fund contained a balance of <br />$312,227. <br /> <br />Additional funding will come from the special revenue Development <br />Fund. The Fund will be closed and the balance transferred to Storm <br />Sewer Projects. The Fund had a balance of $750,042 at the end of <br />2000. <br /> <br />No on-going source of revenue has been dedicated to storm sewer <br />improvements. <br /> <br />The current situation does not allow the City to borrow money to <br />finance storm sewer improvements. Debt options for storm sewer <br />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 />16 <br /> <br /> <br />