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(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 at year end for deficient General Fund Revenue as <br />outlined in the Excess/Deficient General Fund Revenue Policy (#24-331); and <br />(2) Costs associated the acquisition of land and construction of public facilities as <br />detailed in the annual Capital Improvement Program or as approved by the City <br />Council. <br />(d) This fund is eligible for inter -fund loans. <br />5. Right -of -Way Acquisition Loan Fund (RALF) (Fund 9410) <br />(a) This fund shall be used to account for resources and expenditures related to the <br />purchase of property for future state road development. <br />(b) Funding shall consist of the following sources: <br />(1) Met Council Grant Funds as outlined in Loan Agreements; and <br />(2) Rental Revenue as outlined in Lease Agreements <br />(c) Expenditures shall consist of the following uses: <br />(1) Right -of Way Acquisitions as outlined in the Met Council Loan Agreements; <br />and <br />(2) Improvements of Leased Properties <br />(d) This fund is not eligible for inter -fund loans. <br />6. Pavement Management Fund. (Fund 9435) <br />(a) This fund shall be used to account for the resources to be used for street <br />reconstructions and overlays per the City's Pavement Management Program and as <br />outlined in the city's ten-year Capital Improvement Program. <br />(b) Funding shall consist of the following sources: <br />(1) Annual property tax levy; and <br />(2) Interest earnings on the Pavement Management Fund from the distribution of <br />pooled interest earnings. <br />(c) Expenditures shall consist of the following uses: <br />(1) For the annual payment of debt principal and interest for street reconstructions and <br />overlays that were financed with General Obligation debt; and <br />(2) Costs associated with street reconstruction and overlay projects as directed by the <br />city's Pavement Management Program and as detailed in the annual Capital <br />Improvement Program or as approved by the City Council. <br />(c) This fund is eligible for inter -fund loans. <br />Ordinance #25-12 <br />Page 8of13 <br />