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Nonmajor Governmental Funds <br />Special Revenue Funds <br />Special revenue funds are used to account for specific revenues that are legally restricted to expenditure <br />for particular purposes. <br />Hotel / Motel Occupancy Tax Fund – This fund is used to account for the accumulation of resources from <br />the Hotel/Motel Tax assessment levied by the City. These monies are to be spent to promote the <br />development or progress of the City within the guidelines set forth on disposition of revenues collected <br />under the authority of the Texas Hotel Occupancy Act (Article 1269; Vernon’s Texas Civil Statutes). <br />Section 4B Sales Tax Fund – This fund is used to account for funds received from the ½ cent sales tax <br />dedicated to certain economic and infrastructure projects. <br />Tax Increment Reinvestment Zone One Fund (TIRZ) – This fund is used to account for the disposition of <br />property taxes collected on specific parcels within the boundaries of the TIRZ for the exclusive benefit of <br />the City’s capital improvement programs. <br />Grant Fund – This fund is used to account for funds received from another government or organization to <br />be used for a specific purpose activity or facility. <br />Street Maintenance Sales Tax Fund – This fund is used to account for the additional sales tax collected <br />for street maintenance. <br />Emergency Services Sales Tax Fund – This fund is used to account for the additional sales tax collected <br />for emergency services. <br />Capital Projects Funds <br />Capital projects funds are used to account for the acquisition and construction of major capital facilities <br />other than those financed by proprietary funds. <br />Transportation and Other Infrastructure Fund – This fund is used to account for the construction and <br />expansion of roads, bridges, sidewalks and other major infrastructure capital improvements. <br />1998 General Obligation Bonds Fund – This fund is used to account for the proceeds and expenditures <br />related to drainage and street improvements throughout the City. <br />2000 Certificate of Obligation Bonds Fund – This fund is used to account for the proceeds and <br />expenditures for construction of the community library. <br />2004 Certificate of Obligation Bonds Fund – This fund is used to account for the proceeds and <br />expenditures related to the Bay Area Boulevard, Canada Road Paving and Drainage Improvements and <br />the land acquisition of the Police Headquarters. <br />2005 Certificate of Obligation Bonds Fund – This fund is used to account for the proceeds and <br />expenditures related to the purchase of an aerial fire truck, Bayshore Water/Sewer Replacement and <br />various other Water/Sewer Capital Improvements. <br />58 <br /> <br />