New Search
Council Resolution No. 4718. <br />•_.' Special Assessments Capital Projects Fund: <br />Purpose: To account for the interim financing and related costs of construction for public <br />improvements which primarily benefit the property owners against whose properties special <br />assessments are levied. Construction-period financing is obtained through issuance of bond <br />anticipation notes, and the debt service thereon is financed through special assessment <br />collections, proceeds of long-term bonded debt, and interest on investments. <br />Restrictions: State law restricts assessments to the specific improvement constructed. <br />Transportation Utility Fund: <br />Purpose: To account for dedicated revenues and related capital project expenditures incurred in <br />the City's pavement preservation program. Revenues are generated primarily from alive-cent <br />local motor vehicle fuel tax. In February 2008, $0.02 of the local motor vehicle fuel tax is <br />scheduled to sunset. <br />Restrictions: Dedicated fuel tax revenue specifically for the preservation and maintenance of <br />City of Eugene streets. Restrictions are specified by Ordinance No 20278. <br />Road Capital Projects Fund: <br />Purpose: To account for funding used for transportation related projects, usually expended <br />within the public right-of--way or on projects that directly benefit the City's transportation <br />system. The majority of funds are federal and state grants for a specific general road capital <br />project. <br />Restrictions: Funding must be used for road related purposes by ORS 366.785 - 366.820 and is <br />limited to the specific projects stated in each agreement. <br />Wastewater <br />Wastewater Systems Development Capital Projects Fund: <br />Purpose: To account for construction of the growth related portion of capacity-enhancing capital <br />projects. Financing is provided by a systems development charge levied against developing <br />properties. Expenditures are restricted by state law to capacity-enhancing projects for the <br />following systems: transportation, sanitary sewers, storm sewers, and parks facilities. <br />Restrictions: ORS 223.297 - 223.314 provides the statewide framework guiding system <br />development charges. Expenditures of improvement SDCs are restricted by state law to capacity <br />enhancing projects for the system for which the fee is imposed. The reimbursement portion of <br />SDCs maybe used for capital projects related to the system for which the fee was collected, <br />including rehabilitation of existing systems. <br />Wastewater Utility Fund: <br />Purpose: To account for the operation, construction, and maintenance of the wastewater <br />collection and treatment system. Primary revenues are wastewater user fees. <br />City of Eugene 2008 - 2013 Capital Improvement Program <br />25 <br />