Skip to main content
Loading…
This section is included in your selections.

There is hereby created a debt service fund to be known as the limited tax general obligation debt service fund. Within the fund there is created for each outstanding limited tax general obligation issue, and shall be created for each future limited tax general obligation bond issue, of the county a special account to be drawn upon for the sole purpose of paying principal of and interest on that bond issue. The balance, if any, in a special account upon the payment in full of the bond issue for which it was created shall be transferred to the undesignated fund balance in the fund, and may be used to pay principal of and interest on other limited tax general obligation bonds or to pay finance management fees associated with the payment and management of limited tax general obligation bonds of the county. (Added by Ord. 85-132 § 1, Dec. 24, 1985; Amended by Amended Ord. 06-040, June 21, 2006, Eff date July 2, 2006).