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Expenditures shall consist of the following uses: 1) Transfers to the Landfill Expendable Trust Fund, ending in 1996, t o repay State- Aid bonds issued in 1991; and 2) Transfers to the General Fund annually to cover budgeted general maintenance to state-aid designated streets. This amount will be determined annually during the budget process; and] 3) Costs associated with municipal state-aid improvement projects as detailed in the annual Capital Improvement Program or as approved by Council. This fund is not eligible to make loans to other City Funds. Public Improvement Revolving Fund (PIR). The Public Improvement Revolving Fund shall be used to account for revenues and expenditures in conjunction with the City's share of the annual Street Maintenance Program. Funding shall consist of the following sources: 1) Excess debt service funds from retired bonds; and 2) Residual equity transfer from closure of the Administrative Trust Fund; and 3) Annual interest earning__s (past and future) earned on tax increments in the tax in. cmment financing districts until the termination of such districts; and 4) Interest earnings on the Public Improvement Revolving Fund from the distribution of pooled interest earnings. Expenditures shall consist of the following uses: I) Transfers to the General Fund to provide a revenue source for the annual Street Maintenance Program. At no time shall this amount be greater than the annual interest earnings available to the PIR Fund. Fund balance shah be increased to and maintained at a level adequate to ensure future funding of not tess than fff~3' percent (50%) of the City's share of the annual Street Maintenance Program through interest earnings. This fund is eligible for inter-fund loans. Annual Improvement Funds. The City shall maintain one Annual Improvement Fund with individual fund activities created by staff on an as needed basis. Each set of projects financed by a particular revenue source or bond issue shall be treated as a separate fund activity under one main Annual Improvement Fund. All assets, liabilities, fund equity, payments and revenues shall be maintah~ed as separate accounts for each activity. These funds are not eligible for inter-fund loans. As each individual fund activity (for a set group of improvement projects) is closed, the remaining fund equity shall be transferred to the corresponding Debt Service Fund. Park Improvement Revolving Fund. The Park Improvement Revolving Fund shall be used to account for park acquisition and improvements as detailed in the annual Capital Improvement Program. This fund is eligible for inter-fund loans. ... Page 5 of 10