CC PACKET 09071999 - Laserfiche WebLink

Home Browse Search

• (f . 8) $ 17,857 Cable Reserves 9) $ 3,666 MIS/Computer Upgrades 10) $300,000 Water Tower Park Project 1 1) $175,000 Stormwater Renovations 12) $ 43,600 Y2K Upgrades 13) $ 58,500 Park System Renovations (Phase 1) 14) $ 25,000 Mill/Overlay Alley's 15) $ 14,000 City Hall Microphone System Community Services/New City Hall Fund ($31,243) The Community Services/New City Hall Fund is used to fund the operation and maintenance of the new City Hall built in 1997. Funding is comprised of annual rent charges of $100,000 to I.S.D. #282 for the Community Services portion of the building and a rent transfer from the General Fund for the segment of the building used for City Hall. Tax Increment Bonds totaling $2,650,000 were issued to finance the Community Services portion of the building. Annual principal and interest payments until the debt is paid off in 2010 are approximately $250,000 per year. Water & Sewer Fund ($850,250) The Water & Sewer Fund is an enterprise fund used to provide water and sewer services to . the community. Funding for operation and maintenance of the system is provided on a user-fee basis, which is based on consumption of water. In 1998, reserves from the Water and Sewer Fund provided funding for the restoration of the Water Tower at 33rd and Silver Lake Road. In addition, $100,000 has been dedicated to the watermain improvements to the Silver Lake Road Bridge Project. Stormwater Fund ($503,655) The Stormwater Fund is a relatively new fund that has been developed in recent years to provide funding for improvements to the City's stormwater system for 100-Year flood protection. Funding comes from a variety of sources including, stormwater fees charged to residential and commercial entities, State and County grants, transfers from other funds and interest earnings. Recent projects funded by the Stormwater Fund include the Silver Point Park Project and a portion of the 1999 Street Improvement Bond that was issued for $425,000. It is anticipated that the renovations and reconstruction of the City's stormwater system will continue for the next several years. Water Filtration & Purification Fund ($5,117,814) The Water Filtration & Purification Fund was established and is dedicated to provide safe drinking water to the residents. The monies in this fund were derived from a cash settlement that the City received from the United States Army and Honeywell as damages for contaminating the City's water supply.