Expenditures related to interest and principal payments on debt shall be classified into the following accounts:
- (a) Account 4711, principal - long-term bonds and notes, classification shall be for expenditures related to the payment and retirement of long-term debt;
- (b) Account 4721, interest - long-term bonds and notes, classification shall be for expenditures related to the payment of interest associated with long-term debt;
(c) Account 4723, interest on revenue anticipation notes, classification shall be for expenditures related to the payment of interest on short-term temporary borrowing related to:
- (1) Municipal assessment; or
- (2) Revenue anticipation obligations;
- (d) Account 4750, fiscal agents’ fees, classification shall be for payments made to financial institutions for services rendered in paying interest and redeeming debt at maturity;
- (e) Account 4760, bond issuance costs, classification shall be for payments to bond underwriters, legal fees, and other costs associated with bond issuance; and
- (f) Account 4790, other debt service charges, classification shall be for expenditures for interest and other financing charges associated with debt obligations not otherwise classified.
Source. #5455, eff 8-28-92; ss by #6808, eff 7-21-98; ss by #8687, eff 7-21-06; ss by #10652, eff 8-8-14 (from Rev 2206.09); ss by #14027, eff 7-16-24