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1. Tax Increment Fund. (Funds 9201-9214) <br /> <br /> (a) The Tax Increment Funds shall be used to account for the revenue received from <br />general property taxes in the form of tax increments for the City's tax increment <br />financing districts and transfer of funds necessary for the retirement of debt issued <br />in those districts. <br /> <br /> (b) Funding shall consist of the following sources: <br /> (1) Annual increments received from general property taxes through the expiration of <br />each district; and <br /> (2) Interest earnings on the Tax Increment Fund from the distribution of pooled <br />interest earnings. <br /> (3) Land sales if land purchase was originally financed with Tax Increment funds <br /> <br /> (c) Expenditures shall consist of the following uses: <br /> (1) Transfers to the related debt service funds for principal, interest and fiscal charges <br />on bond issued on projects in the tax increment financing districts until such time <br />as all bonds are retired; and <br /> (2) Costs levied by the County for administration of the tax increment financing <br />districts; and <br /> (3) Costs associated with tax increment financing projects as detailed in the annual <br />Capital Improvement Program or as approved by the Economic Development <br />Authority and City Council. <br /> <br /> (d) The above policies shall at all times comply with Minnesota Statutes and any City <br />agreements currently in place or entered into in the future. <br /> <br /> (e) This fund is eligible for inter-fund loans. <br /> <br /> <br /> 2. Future Sealcoating Fund. (Fund 9250) <br /> (a) The Future Sealcoating Fund shall be used to account for contributions from <br />developers and property owners for future sealcoating work. <br /> <br /> (b) This fund is eligible for inter-fund loans. <br /> <br /> <br />3. Revolving Loan Fund. (Fund 9232) <br /> (a) The Revolving Loan Fund shall be used to account for loans authorized by the City <br />of Ramsey to prospective private businesses in accordance with Chapter 469 of the <br />Minnesota State Statutes and as outlined in the City of Ramsey’s Economic <br />Development Revolving Loan Fund Guidelines adopted in February 2005. <br /> <br /> (b) Funding shall consist of the following sources: <br /> <br />(1)Funds made available by the Minnesota Department of Trade and Economic <br />Development and the City of Ramsey; and <br /> <br />(2)Interest Collected on loaned funds during the term of the loan; and <br /> <br />(3)Interest earnings on the Revolving Loan Fund from the distribution of pooled <br />interest earnings. <br /> <br /> (c) Expenditures shall consist of the following uses: <br />Page 2 of 11 <br /> <br /> <br />