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GLOSSARY OF TERMS <br /> REVENUES TAX <br /> Monies received or anticipated by the City from Compulsory charges levied by a government for the <br /> either tax or nontax sources. purpose of raising revenue. Taxes are used to pay <br /> for services or improvements provided for the gen- <br /> SPECIAL ASSESSMENT eral public benefit. <br /> Charges imposed against property in a particular <br /> l~~ <br /> locality because that property receives a special TAX LEVY <br /> benefit by virtue of some public improvement, Total amount of property taxes imposed by a local <br /> separate and apart from the general benefit accruing government unit. <br /> to the public at large. Special assessments must be <br /> apportioned according to the value of the benefit UNFUNDED PROJECT <br /> received, rather than the cost of the improvement Unfunded projects are those capital projects where <br /> and may not exceed the value of such benefit. the resources necessary to complete them have not <br /> been identified. Both unfunded and funded projects <br /> SPECIAL ASSESSMENT BOND are included in the CIP to provide a complete listing <br /> A bond issue payable from the payments on special of capital needs throughout the City. See also <br /> assessments imposed against properties that have "Funded Project." <br /> been specially benefitted by the construction of <br /> public improvements, such as sidewalks or sewer <br /> systems. <br /> SPECIAL REVENUE FUNDS <br /> A fund used to account for the proceeds of certain <br /> revenue sources that are legally restricted to expen- . <br /> diture for specific purposes. In Eugene, the Road <br /> Fund is a Special Revenue Fund that accounts for <br /> maintenance and construction of the City's roads <br /> with resources provided by the City's share of gas <br /> taxes and Lane County Urban Transition Revenues. <br /> SUPPLEMENTAL BUDGET <br /> A financial plan that is presented to the City <br /> Council subsequent to the passage of the fiscal year <br /> appropriation act (adopted budget) to recognize <br /> unexpected needs or to spend revenues not <br /> anticipated at the time the annual budget was <br /> adopted. A supplemental budget cannot be used to <br /> authorize a property tax levy. (ORS 294.480) <br /> SYSTEM DEVELOPMENT CHARGE (SDC) <br /> Designed to finance the construction, extension or <br /> enlargement of a park, street, storm sewer or sew- <br /> <br /> ; erage or disposal system. SDCs are imposed by a <br /> governmental unit as a condition to issuance of any <br /> occupancy permit or imposed by a governmental <br /> unit at such other time as, by ordinance, it may de- <br /> termine. (ORS 223.299) <br /> City of Eugene 2006 - 2011 Capital Improvement Program <br /> 175 <br /> <br />