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Debt Service Funds — Debt Service Funds are used to pay for debt service on the City's outstanding bonds. Funding for debt service funds <br />can include: property taxes; special assessments, debt support from other funds; or a combination of the three. <br />City of Orono 2019 Draft Budget - Page 5 <br />portion of the bond issue save the City an estimated <br />• 2008 GO Street Reconstruction Bond —The 2008 bonds <br />$47,125. Funding is a combination of property taxes and <br />were issued to fund the City's Pavement Management <br />Municipal State Aid money from the State of Minnesota <br />Plan. Funding is a combination of property taxes and <br />debt support transfers from the Water and Sewer funds <br />• 2014 General Obligation Bonds —The 2014 bonds were <br />to pay for utility work that was completed as part of the <br />issued for multiple purposes: to refund the 2005 HRA <br />project. <br />Public Project Revenue Bonds (Big Island); to fund water <br />infrastructure improvements including a new well; and to <br />• 2010 General Obligation Bonds —The 2010 bonds were <br />fund the construction of the Public Safety Garage. <br />issued for multiple purposes: to refund the 2003 HRA <br />Funding is a combination of property taxes; water <br />Public Facility Bonds (Navarre Fire); to fund the <br />revenues; and a transfer from the General Fund related <br />reconstruction of Old Crystal Bay Road; and to fund the <br />to revenues from the Mound police service contract. <br />reclamation of Orono Orchard Road. The refunding <br />City of Orono 2019 Draft Budget - Page 5 <br />