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DEBT SERVICE FUNDS 6.1.E. - Page 124 <br /> Debt service funds are used to account for the payment of interest and principal on general debt of the <br /> City and related entities. <br /> Public Financing Authority 2013 Refunding Lease Fund —This fund accounts for a lease entered into to <br /> refund the 2003 Public Financing Authority bonds. This lease is secured by lease payment from the City. <br /> CAPITAL PROJECTS FUNDS <br /> Capital project funds are established to account for resources used for the acquisition and construction <br /> of capital facilities by the City except for those financed by the proprietary funds or special revenue funds. <br /> Funding for these projects is provided by the general fund and by special assessment districts. Currently <br /> the City has the following funds: <br /> Facilities Fee Construction Fund—This fund derives its revenue from fees collected from the developers <br /> in the Redwood Shores area. Funds are used for improvements to roads, drainage, water, traffic lights, <br /> canals, etc. in the area. <br /> Parks Impact and In Lieu Fee Fund—This fund accounts for parks impact fees and Quimby Act in lieu fees <br /> charged to developers on new development projects,to enable the City to expand and improve its system <br /> of parks, parkland, and recreational facilities to provide services to future development. <br /> Shores Transportation Improvement District Fund —This fund accounts for community facility district <br /> bonds that were issued and developer contributions that were received by the City to fund various <br /> transportation projects in the Redwood Shores area. <br /> One Marina Community Facilities District Fund—This fund accounts for certain public infrastructure <br /> improvements within the One Marina district that are financed by community facilities district bonds, <br /> and developer contributions. <br /> 95 <br />