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Capital projects funds are used to account for financial resources to be used for the acquisition or construction of major
capital facilities and improvements, replacements, and additions to designated environmental improvement projects. Capital
Project funds are established to account for property tax levy, incremental property tax and other revenue use for the acquisition
of long-term assets.
The majority of the revenue in the Capital Project Funds (79%) comes from incremental property tax in the Tax Increment
Financing districts. Grant revenue makes up the other 21% of the revenue. Bond proceeds from Series A and Series B flow
through the TIF #2 & #3 capital project funds in fiscal 2002-03.
The Capital Project Funds are as follows: Utility Tax Fund, Community Development Block Grant (Street Reconstruction),
Tax Increment Financing District No. 1 (Sauk Plaza), Tax Increment Financing District No. 2 (Sauk Pointe) and Tax Increment
Financing District No. 3 (Transdevelopment).
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