Which of the following statements is false? Multiple Choice Premiums generated from the issuance of bonds for a capital projects fund are generally transferred to the Debt Service Fund. taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are recognized as revenues of the Debt Service Fund. O An encumbrance in a capital project fund is created when the contract for the work is signed or issued. Unmatured principal installments and accrued interest which due shortly after year and are required to be reported as bites in the debt service fund at year