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This fund is eligible for inter-fund loans. However, only forty percent (40%) of <br />the principal balance shall be used as a source of interest free inter-fund loans and <br />any loan or transfer of principal from the LandFill Expendable Trust Fund shall be <br />approved by a four-fifths vote of the City Council. <br /> <br />Park Improvement Trust Fund. <br />The Park Improvement Trust Fund shall be used to account for all cash and <br />property park dedication fees and miscellaneous revenues to be used for future land <br />acquisition and park improvements. <br /> <br />This fund is eligible for inter-fund loans. <br /> <br />Escrow Fund. <br />The Escrow Fund shall be used to account for monies held for specific purposes <br />from developers, contractors, builders, residents or the like. This fund shall be <br />non-interest bearing. <br /> <br />This fund is not eligible for inter-fund loans. <br /> <br />Equipment Revolving Fund. <br />The Equipment Revolving Fund shall be used to account for resources to finance <br />the replacement of City equipment, vehicles and/or buildings and facilities. <br /> <br />Funding shall consist of the following sources: <br />1) Transfers fi-om the Landfill Tipping Fee Fund of seventy-five percent (75%) of <br /> tipping fees received during the life of the Anoka Regional Sanitary Landfill; and <br />2) Transfers from non-proprietary fund types in the mount of the annual depreciation <br /> to be held and invested in order to provide funds for the replacement of equipment, <br /> vehicles, and/or buildings and facilities; and <br />3) Interest earnings on the Equipment Revolving Fund from the distribution of pooled <br /> interest earnings. <br /> <br />Expenditures shall consist of the following uses: <br />1) Transfers to non-proprietary fund types for costs associated with the replacement of <br /> equipment, vehicles, and/or buildings and facilities in an amount not to exceed the <br /> lesser of seventy-five percent (75%) of the replacement cost or one hundred percent <br /> (100%) of the depreciated value. <br /> <br />Fund Balance shall be increased and maintained at a minimum level equal to one <br />hundred percent (I00%) of the original cost of all equipment, vehicles, and/or <br />buildings and facilities in the Equipment Revolving Fund. <br /> <br />This fund is eligible for inter-fund loans. <br /> <br />Investment Trust Fund. <br />The Investment Trust Fund shall be an interim fund only used to account for and <br />distribute earned interest to the various City funds. This fund shall be closed each <br />year prior to the issuance of the annual financial statements and has no budget <br />because of its temporary nature <br /> <br />This fund is not eligible for inter-fund loans. <br /> <br />Page 8 of 10 <br /> <br /> <br />