Agenda - Council Work Session - 03/22/2016

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financing districts and transfer of funds necessary for the retirement of debt issued in those districts. (b) Funding shall consist of the following sources: (1) Annual increments received from general property taxes through the expiration of each district; and (2) Interest earnings on the Tax Increment Fund from the distribution of pooled interest earnings. (3) Land sales if land purchase was originally financed with Tax Increment funds (c) Expenditures shall consist of the following uses: (1) Transfers to the related debt service funds for principal, interest and fiscal charges on bond issued on projects in the tax increment financing districts until such time as all bonds are retired; and (2) Costs levied by the County for administration of the tax increment financing districts; and (3) Costs associated with tax increment financing projects as detailed in the annual Capital Improvement Program or as approved by the Economic Development Authority and City Council. (d) The above policies shall at all times comply with Minnesota Statutes and any City agreements currently in place or entered into in the future. (e) This fund is eligible for inter -fund loans. 2. (a) Landfill Tipping Fcc Fund.The Landfill Tipping Fee Fund was used to account for revenues and expenditures as authorized by MS Section 115A.921 for landfills. (This fund has been depleted via annual General Fund Budget Use of outstanding balance) (b) Funding shall consist of the following sources: (1) Grants and reimbursements from efforts to reduce, ruse and recycling solid waste; and (2) Revenues generated from charges at the annual clean up day, which is projected to be self supporting; and (3) Revenues from the sale of waste oil and scrap metals; and ('1) Interest earnings on the Landfill Tipping Fee Fund from the distribution of pooled interest earnings. (c) Expenditures shall consist of the following uses: (1) Transfers to the General Fund for costs associated with Environmental Services in the City in an amount that does not exceed the amount of interest earnings projected and available in the Landfill Tipping Fee Fund; and (2) Costs associated with the annual clean up day. (d) This fund is not eligible for inter fund loans. Page 2 of 14 Fund no longer utilized)