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debt issuance. Each debt issue shall be treated as a separate fund activity under one <br />main Debt Service Fund. All assets, liabilities, fund equity, payments, and revenues <br />shall be maintained as separate accounts for each activity. <br />2. These funds are not eligible for inter -fund loans. However, after retirement of the <br />bonds, these funds will be used to reduce debt service of outstanding debt. <br />d. Capital Project Funds. Capital Project Funds shall be used to account for <br />financial resources to be used for the acquisition or construction of major capital <br />facilities (other than those financed by Proprietary Funds and Trust Funds). The <br />following are the City's Capital Project Funds: <br />1. Municipal State Aid Construction Fund (MSA) (Fund 9402) <br />(a) The MSA Fund shall be used to account for state -aid allotments used by the City <br />for improvement projects to thoroughfare streets designated as MSA streets within <br />the City. <br />(b) Funding shall consist of the following sources: <br />(1) Annual MSA allotments; and <br />(2) Interest earnings on the MSA Fund from the distribution of pooled interest earnings. <br />(c) Expenditures shall consist of the following uses: <br />(1) For the annual payment of debt principal and interest for State -Aid street projects <br />that were financed with General Obligation debt; and <br />(2) Transfers to the General Fund annually to cover budgeted general maintenance to <br />state -aid designated streets. This amount will be determined annually during the <br />budget process; and <br />(3) Costs associated with municipal state -aid improvement projects as detailed in the <br />annual Capital Improvement Program or as approved by the City Council. <br />d) This fund is not eligible to make loans to other city funds. <br />2. Public Improvement Revolving Fund (PIR) (Fund 9400) <br />(a) The PIR Fund shall be used to account for revenues and expenditures in conjunction <br />with the City's share of the annual Street Maintenance Program. <br />(b) Funding shall consist of the following sources: <br />(1) Interest earnings on the PIR Fund from the distribution of pooled interest earnings; <br />and. <br />(2) Transfers from the General Fund at year-end for excess General Fund Revenue <br />as outlined in the Excess/Deficient General Fund Revenue Policy (#24-331) <br />(c) Expenditures shall consist of the following uses: <br />(1) Transfers to the General Fund to provide a revenue source for the annual Street <br />Maintenance Program; and <br />(2) Funding for public improvements as outlined in the city's Capital Improvement <br />Program or as authorized by the City Council; and <br />Page 6 of 12 <br />