A. Purpose. The purpose of this fund is to account for the debt service for the City’s combined local improvement district (CLID 1103) and the local improvement district (LID 1108). The fund was created as part of the process in establishing the permanent financing for LIDs 1101, 1102, and 1103. When the City secured permanent financing for the three LIDs, it combined them into one bond offer entitled CLID 1101-1103. The CLID bonds were a public offering. This fund also accounts for LID 1108, which is a one-property-owner LID. This bond was a private placement with Cashmere Valley Bank. This fund was established via Ordinance 352 adopted by City Council in April 2004, which established the LIDs 1101, 1102, and 1103 and created the fund.