Ad Valorem taxes are an existing funding source. Currently, 11.8 cents of every $100 of property value collected from property owners is currently going to pay off the debt incurred on previous street and drainage projects. As this old debt is paid off, the balance of funds from the 11.8 cents reserved by City Council via Drainage Utility Ordinance No. 2011‐254 will now go toward new street and drainage projects via Pay‐As‐You‐Go funding. As more debt is paid off – more cash projects will be funded.