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- <br />- <br />Nonmajor Governmental Funds <br />Special Revenue Funds <br />Special Revenue Funds are used to account for the proceeds of specific revenue sources that are legally restricted <br />to expenditures for particular purposes. The City maintained the following nonmajor Special Revenue Funds <br />during the year. <br />Economic Development Authority - established to account for the receipt and uses of funds for <br />economic purposes. <br />Program Recreation - established to account for various self - supporting recreational programs. <br />Debt Service Funds <br />The Debt Service Funds account for the accumulation of resources for, and the payment of, interest, principal and <br />related costs on general long -term debt. <br />The City's Debt Service Funds account for three types of bonded indebtedness: <br />General Debt Bonds - are repaid primarily from property taxes. <br />Improvement Bonds - are repaid primarily from special assessments. <br />Public Facility Lease Revenue Bonds - are repaid primarily from lease revenues received from the <br />EDA leasing the buildings to the City of Lino Lakes and other tenants. <br />Capital Project Funds <br />Capital Project Funds account for the acquisition or construction of major capital facilities other than those <br />financed by Proprietary Funds and Trust Funds. The City maintained the following nonmajor Capital Project <br />Funds during the year: <br />Capital Improvement Projects - to account for the proceeds from Equipment Certificates. <br />Closed Bond Fund - to account for excess funds from matured bond issues. <br />Street Reconstruction — to account for the financing of future reconstruction of City streets. <br />Sealcoating - to account for money received from assessments and developer deposits for future street <br />sealcoating projects. <br />Surface Water Management - to account for the financing of surface water management and storm water <br />improvements. <br />SAC Revolving - to account for refunds from the Metropolitan Council Environmental Service for <br />properties that paid Sewer Area Charges (SAC) that will be collected in the future. <br />Construction Funds - to account for the construction of public improvements. <br />Town Center Project - to account for costs associated with the construction of the City Town Center <br />project. <br />Civic Center Project - to account for costs associated with the construction of the Civic Complex project <br />Tax Increment - to account for development projects financed with tax increments. <br />Lake /Apollo Drive Improvement Fund - The Lake /Apollo Drive Improvement Fund was established to <br />account for the costs of upgrading Lake Drive and Apollo Drive east of Lake Drive for the Market Place <br />development. <br />Twilight Acres/W. Shadow Pond Improvement Fund - The Twilight Acres /W. Shadow Pond <br />Improvement Fund was established to account for the costs of installing sewer infrastructure in <br />the Twilight Acres area and to install utility and street improvements on West Shadow Ponds <br />Drive. <br />