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URA Resolution No. 1078
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2012-2016 No. 1063-1081
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URA Resolution No. 1078
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7/12/2016 1:50:49 PM
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1/13/2016 3:08:51 PM
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City Recorder
CMO_Document_Type
Resolutions
Document_Date
1/11/2016
Document_Number
URA Resolution 1078
CMO_Effective_Date
1/11/2016
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CRO
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URBAN RENEWAL AGENCY OF THE CITY OF EUGENE, OREGON <br />Notes to Basic Financial Statements <br /> <br />(1) Summary of Significant Accounting Policies, continued <br />(D) Measurement Focus, Basis of Accounting, and Financial Statement Presentation, continued <br /> Governmental Funds, continued <br />Debt Service Fund <br />The Debt Service Fund is used to account for the accumulation of tax increment resources and the <br />payment of debt service on tax increment bonds and other expenditures within the Downtown District. <br />Capital Projects Fund <br />The Capital Projects Fund is used to account for the financial resources to be used for the acquisition <br />or construction of major capital facilities within the Downtown District. <br />The following are the Agency's Riverfront District governmental funds: <br />Riverfront Special Revenue Fund <br />The Riverfront Special Revenue Fund is used to account for the accumulation of tax increment <br />resources and to pay Riverfront District administration costs. <br />Riverfront Capital Projects Fund <br />The Riverfront Capital Projects Fund is used to account for the financial resources that are restricted <br />to expending for acquisition or construction of major capital facilities within the Riverfront District. <br />(E) Equity in Pooled Cash and Investments <br />The Agency invests cash through the City into various investment programs. Policies adopted by the <br />City’s Investment Advisory Board and the Eugene City Council authorize the City to invest in obligations <br />of the U.S. Treasury and its agencies, time certificates of deposit, governmental money market bank <br />deposit accounts, bankers’ acceptances, municipal bonds, corporate bonds, commercial paper, <br />repurchase agreements, reverse repurchase agreements, and the Oregon Local Government Investment <br />Pool. <br /> It is the City’s policy to report at amortized cost all short-term, highly-liquid money market investments <br />(including corporate bonds, commercial paper, bankers’ acceptances, municipal bonds, and U.S. <br />Treasury and agency obligations) and participating interest-earning investment contracts with a remaining <br />maturity at time of purchase of one year or less. Such investments are stated at cost, increased by <br />accretion of discounts and reduced by amortization of premiums, both computed by the straight-line <br />method. Callable investments purchased at a discount are amortized to the maturity date, <br />and callable investments purchased at a premium are amortized to the first call date. Investments with a <br />remaining maturity at time of purchase of more than one year are valued at fair value. <br />The City maintains a common cash and investments pool for all City funds, including funds of the Agency. <br />Interest earned on the pooled cash and investments is allocated quarterly based on each fund’s average <br />cash and investments balance as a proportion of the City’s total pooled cash and investments. The City <br />considers “cash” to include the pooled cash and investments, since the pool has the general <br />characteristics of a demand deposit account, in that any participating fund may deposit additional cash at <br />any time and also may withdraw cash at any time without prior notice or penalty. <br />continued <br />23 <br />
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