On January 2, 2019, the Street Improvement Bond Debt Service Fund (DS) budget for 2019 was legally adopted. The budget provides for estimated property tax revenue of $900,000, of which $250,000 will be invested to accumulate resources over the next four years for the $1,000,000 principal that will be due for payment in 2019 for the 4% bonds. The remaining revenues are intended to pay $80,000 interest due during 2019 on the 4% deferred serial bonds, as well as the $50,000 interest payment that will be due on the 5% serial bonds on July 1, 2019. The 2019 property tax levy also provides resources to retire the $200,000 of 5% serial bonds that mature on January 1, 2020, and interest of $90,000 due on that date ($40,000 interest on the 4% deferred serial bonds and $50,000 on the 5% serial bonds). The budget also provides for estimated investment earnings of $3,000 during 2019. No premium or accrued interest on bonds sold is included in the 2019 estimated other financing sources or estimated revenues. If the Street Improvement Debt Service Fund (DS) does receive such items, they will be invested and used for eventual bond redemption or interest payments, and the budget will be amended accordingly to reflect such items.

DR. Estimated Revenue - Accrued Interest on Bonds Sold X

DR. Estimated Other Financing Sources - Premium on Bonds X

CR. Appropriations X

CR. Budgetary Fund Balance X