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6.1.D. - Page 128 S (CONTINUED) <br />Housing Legal Aid Society Fund — This fund accounts for revenues previously deposited in the former <br />redevelopment agency low and moderate income housing fund pursuant to an agreement with the Legal <br />Aid Society to set aside general tax increment revenue for housing purposes. After the February 1, 2012 <br />dissolution of the redevelopment agency, this fund was created to account for this accumulated balance. <br />DEBT SERVICE FUNDS <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 />101 <br />