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state how much available income, including the amount in the sinking fund, the authority will use to pay principal or interest or both on each specified issue of the authority's bonds. The auditor shall then reduce the bond levy for that year by that amount. The authority shall then set aside the certified amount and may not use it for any purpose except to pay the principal and interest on the bonds. The taxes in this section shall be collected and sent to the authority by the county treasurer as provided in chapter 276. The taxes must be used only to pay the bonds when due. What represents the type of activities the EDA is authorized to carry out requires legal analysis so it is beneficial to consult the opinion of the city attorney. Summary of Mounds View Program Goals: To provide a funding mechanism needed to fund economic development activities and programs. Specifically, this program will provide the resources necessary to purchase land, demo buildings and package parcels as redevelopment projects that when completed, will add to the tax valuation and ultimately the tax base. Some projects may assist in creating additional jobs as well as the attraction, retention, rehabilitation and preservation of commercial, industrial, retail, residential, recreational, and public service centers. Other goals of the EDA levy is the support of senior/mature adult and /or other housing development partnerships or other multi-use housing projects and facilities, other public utilities (including telecommunications), business incubator loan and other business programs, and transportation systems. More emphasis will be placed on those items which increase the tax base, eliminate blight, and meet the City's economic and redevelopment goals. Due to lack of funding,the city has been restricted or hasn't been able to support the following: Marketing: There is currently no funds budgeted in marketing. Normally, marketing funds are used for new signage, branding, marketing redevelopment sites, and promoting the city in the attraction of new businesses. Many cities pay their staff to travel with DEED to trade shows, complete the Shovel Ready Certification Program, market the city in several publications through articles and sponsorships, and participate in recruiting events. With limited or no funding, marketing efforts have been limited. Advertising: Currently, there are no funds budgeted for advertising. Advertising is accomplished by placing ads in business publications that reach key personnel in targeted corporations. Articles are used to promote the city's redevelopment sites, its business friendly atmosphere, as well as community events like the Festival in the Park, through Mounds View Matters, and other venues. Advertising has been limited. Small scale incentives: Cities across Minnesota are offering many variations of small business loans set up to be revolving loans. This means that when one business pays back their loan another business can benefit with the continuous replenishing of funds. Each program has its own policy and has different purposes. For example, some loan programs target job creation; others target property valuation, while others qualify the project by the community benefit in relation to its social value. Still others focus on the aesthetics like improving the fagade of small businesses. All these programs make it easier for