The city’s finances are in the dumps but the potholes may soon get better. Mayor Jerry Sanders has dedicated $47 million to resurface more than 1,000 city blocks with asphalt overlay beginning this week, with plans to finish by the summer of 2011. In Pacific Beach, Noyes Street will be resurfaced from Reed Avenue to Thomas Avenue and Felspar Street will be repaved from Cass Street to Dawes Street. City staff has estimated almost as many miles of city streets will be repaved in this single project as have been repaved over the past eight years combined. The city is drawing from a $103 million bond reserved for capital improvement projects, which the city obtained a few years ago, according to mayoral spokesperson Alex Roth. Roth said that in the past the city repaired streets with money from the general fund and state tax revenue. This is the first time the city has pulled from the bond for street repairs. “There’s simply not enough money in the general fund to cover capital projects of this scope,” Roth said. The city must repave streets now instead of waiting for the problems to grow worse and more expensive, Roth said.