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<br /> <br /> <br />Additional Information: <br /> <br />One major expenditure, approximately $230,000 a year, that is also financed by the Water and Sewer <br />Funds relates to the debt service payments for the public works facility. Initially the debt service payment <br />was structured to be financed through a tax levy. Since the tax levy has been eliminated there has been a <br />major shift in the financial burden to the Water (Fund 601) and Sewer fund (Fund 602). It is essential that <br />the City will closely monitor the Water and Sewer fund to ensure that it can continue to finance the future <br />debt service payments. The total outstanding principal balance at the end of 2023 equaled $2,085,000. <br />The debt will not be retired until 2034. <br /> <br /> <br /> <br /> <br /> <br />