Item B: Funding Strategies for Transportation System Operations, Maintenance, and Preservation

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C:Revenue and Collection Policies Policy C.3(Serial Tax Levies) . To the maximum extent possible, serial tax levies will be used only for time-limited operating services or for capital improvements subject to the rate limitation for non-school governments. (Dedicated Revenue--Capital Projects) Policy C.4. To the maximum extent possible, the City will secure a dedicated revenue source to fund general and storm sewer capital projects. Capital Improvements Policies D: (Capital Improvement Program) Policy D.1. The City will plan for capital improvements over a multi-year period of time. The Capital Improvements Program will directly relate to the long-range plans and policies of the City. Operating funds to maintain capital improvements and to fund additional staff and service needs will be estimated and identified prior to making the decision to undertake specific capital improvements. Policy D.2. (Revenue Bonds--Capital Projects) Whenever a service is an enterprise or utility-based operation and where the ratepayer directly benefits, the City will work to finance capital improvements by using self-supporting revenue bonds, which could be General Obligation backed. Policy D.3 (General Obligation Bonds--Capital Projects) . Use of General Obligation bonds will be limited to major capital construction or improvements as defined in ORS 310.140 in support of general municipal services. ( General Fund Debt -- Capital Projects) Policy D.7. The General Fund may be pledged as a primary or secondary source of repayment of long- term debt obligations when it is determined that this pledge is in the best interests of the City. The maximum annual debt service on all outstanding General Fund debt shall not exceed 10% of total General Fund expenditures in the year in which any new debt is issued. Of that amount, no more than 5% of total General Fund expenditures shall be for long-term debt that G5