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AUTHORIZATION <br />MSA 429 Authorized Purposes: <br />• streets <br />• sidewalks <br />• sewer systems <br />• water systems <br />• street lights <br />• parks <br />• flood control <br />• gas & electric systems <br />• district heating <br />• others <br />Sources of Revenue: <br />• At least 20% special <br />assessments <br />• Any other source of <br />revenue <br />AUTHORIZATION <br />G.O. Improvement Bond Characteristics: <br />• 20% of project required to be assessed <br />• Does not count against debt limit <br />• Is not subject to levy limits <br />• Does not require a referendum <br />• Debt Service Fund versus PIR Fund <br />• Max term = 30 years for Improvement Bonds, three years for <br />Temporary Bonds <br />3 <br />