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