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The settlement will provide funding for an additional treatment process to remove the contaminant from the drinking water. In connection with this recent settlement the Water Filtration Fund was closed and its assets were transferred for utility operating and capital needs. The 2016 Army settlement proceeds along with Water Filtration transfer proceeds established the Public Utilities Infrastructure Fund. The Public Utilities Infrastructure Fund will be the capital fund used prospectively to fund capital needs of the water, sanitary sewer and fiber optic utilities. Park Improvement Fund (501) – $137,055 The Park Improvement Fund provides for the renovation and refurbishing of the City’s park system. Current revenue sources are donations from private sources and park land dedication fees. The fund revenues are designated for park improvements. Tax Abatement Bond Fund and HSIP Tax Abatement (502/536) – $432,395 This fund supports the bond payments for the Tax Abatement Bonds issued in 2009 for Park Improvements and Tax Abatement Bonds issued in 2016 for sidewalk and intersections safety improvements. The 2009 bonds will be retired in 2025, eliminating annual debt service of approximately $175,000. The 2016 bonds will be retired in 2026, eliminating the annual debt service of approximately $98,000. Revolving Fund (509) – $686,013 The Revolving Fund has served as the general improvement fund for miscellaneous 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) – $681,915 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. In 2016 a Building Improvement Levy replaced the use of Liquor proceeds. In 2019 an annual increase in the Building Improvement levy was established in recognition of inflationary impacts over time. Street Improvement Bond Fund (various funds combined) – $4,021,817 The Street Improvement Bond Fund was established to provide debt financing for the street improvements. The debt issuance will be repaid with funds derived from the Road Improvement Levy, special assessment collections, and debt reduction transfers. Street Improvement Construction Fund (various funds combined) – $241,628 This fund accounted for the costs associated with the feasibility and design costs, mill and overlays, sidewalk improvements, intersection improvements, street lighting improvements and construction costs associated with planned street improvements. 61