Legislation Details

File #: 20-0855    Name: Debt Management Policy
Type: Resolution Status: Approved
In control: City Council Regular Meeting
On agenda: 10/6/2020 Final action: 10/6/2020
Title: Consider/Discuss/Act on a Resolution Adopting the Debt Management Policy for Fiscal Year 2020-2021
Attachments: 1. Resolution, 2. Debt Management Policy

Title

Consider/Discuss/Act on a Resolution Adopting the Debt Management Policy for Fiscal Year 2020-2021

 

Summary

 

COUNCIL GOAL:                     Financially Sound Government

4A: Provide funding and organizational framework to ensure continual economic improvements

4C: Pursue and maintain a AAA bond rating with S&P (Standard & Poor’s) and Moody’s

 

MEETING DATE:                     October 06, 2020

 

DEPARTMENT:                      Financial Services

 

CONTACT:                       Mark Holloway, Chief Financial Officer

 

 

RECOMMENDED CITY COUNCIL ACTION:                     

•                     Adopt the Fiscal Year 2020-2021 Debt Management Policy

 

ITEM SUMMARY: 

•                     Annual review of the City’s debt management policy.

 

BACKGROUND INFORMATION: 

•                     The City adopts debt management policies to establish parameters and provide guidance governing the issuance, management, continuing evaluation of and reporting on all debt obligations issued by the City.

•                     This policy provides for the preparation and implementation necessary to ensure compliance and conformity with Federal, State, and local laws, rules, and regulations.

 

FINANCIAL SUMMARY:  N/A

 

BOARD OR COMMISSION RECOMMENDATION:  N/A