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earnings of the Closed Bond Fund will be used to provide supplemental financing <br /> for debt service tax levies. <br /> 4. Fund balances in the Municipal Development Capital Project Fund shall be <br /> considered as committed for community development and re-development and <br /> initial project costs. <br /> 5. Fund balances in other capital project funds will be considered as assigned, <br /> consistent with the purpose of their respective funds. <br /> VII. AUTHORITY <br /> The Finance Director is authorized to assign amounts within the fund balance of the City's <br /> governmental funds to be used for specific purposes in conformity with GAAP and GASB <br /> pronouncements and to be consistent with this policy and the intent of the City Council. <br /> Page 6 of 6 <br />