If taxes are levied specifically for payment of interest and principal on long-term debt, those taxes are recognized as revenues of the debt service fund.
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Q47: Budgets are typically recorded for capital projects,
Q48: Permanent funds reflect resources that are restricted
Q49: Capital project funds have indefinite lives.
Q50: A gift of $1,000,000 to a city,
Q51: A Debt Service Fund is a fund
Q53: General Funds and special revenue funds typically
Q54: Permanent funds may spend both earnings and
Q55: Budgets are typically not recorded for Special
Q56: Since long-term liabilities are not recorded in
Q57: Budgets are typically recorded for Capital Projects
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