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DEBT SERVICE FUNDS <br /> <br />The Debt Service Funds account for the accumulation of resources and the <br />payment of general obligation principal and interest. The City is required <br />by ordinance to levy ad valorem taxes sufficient to pay each installment of <br />principal and interest of general obligation debt as it becomes due. The Debt <br />Service Funds existing during the year were: <br /> <br /> Certificates of Obligation, Series 1993 <br /> Certificates of Obligation, Series 2000 <br /> Certificates of Obligation, Series 2002 <br /> <br /> <br />