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Tax Abatement Bond Fund (502) - $219,034 This fund provides funds to support the bond payments for the Tax Abatement Bonds issued in 2001 & 2009 for Park Improvements. The 2001 bonds will be retired in 2016, reducing annual debt service requirements by approximately $55,000. The 2009 bonds will be retired in 2025, eliminating the remaining annual debt service requirements of approximately $175,000. Street Improvement Bond Fund (345/503) - $2,846,150 The Street Improvement Bond Fund revenue’s include special assessments and a portion of Road improvement Levy. These proceeds are used to retire debt associated with road improvement bonds issued prior to 2009.The Fund balance above includes $1,392,296 of restricted funds related to the advance refunding of certain bond issues. The remaining Fund balance will be used to service the annual debt service requirements. Debt obligations serviced by this fund will be fully retired by 2023. Street Improvement Fund (340) - $152,271 This represents the remaining project funds for Street Improvements prior to 2009. The fund’s assets were transferred in 2014 to the related Debt Service Fund (345). Silver Lake Road Bond Fund (365) - $165,606 The Silver Lake Road Bond Fund was established to provide debt financing for the Silver Lake Road improvements. Revolving Fund (509) - $841,574 The Revolving Fund has served as general improvement fund for projects. City Council has designated the use of this fund to projects such as park improvements, capital equipment purchases, computer technology, street improvements and contingencies for emergency expenditures. Building Improvement Fund (510) - $118,816 The fund was established to provide funding for infrastructure and non-recurring maintenance costs for City owned buildings and structures throughout the Village. Funding of these projects was established in the 2013 Budget by transferring from the Community Center Fund and Liquor proceeds beginning in 2014. 2009 Street Improvement Bond Fund (512) - $395,906 The 2009 Street Improvement Bond Fund was established to provide debt financing for the 2009 street improvements. The $2,630,000 debt issuance will be repaid with funds derived from the Road Improvement Levy and special assessment collections. The debt will be fully retired by 2025. 2010 Road Improvement Bond Fund (514) - $162,484 The 2010 Street Improvement Bond Fund was established to provide debt financing for the 2010 street improvements. The $1,375,000 debt issuance will be repaid with funds derived from the Road Improvement Levy and special assessment collections. The debt will be fully retired by 2026. 2011 Road Improvement Bond Fund (516) - $398,862 The 2011 Street Improvement Bond Fund was established to provide debt financing for the 2011 street improvements. The $1,940,000 debt issuance will be repaid with funds derived from the Road Improvement Levy, special assessment collections and fund balance. The debt will be fully retired by 2027. 66