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Winter Haven commission adopts formal debt management policy
Summary
The Winter Haven City Commission unanimously approved Resolution R‑25‑50 to adopt a city debt management policy setting standards for issuance, structure, refinancing and transparency.
The Winter Haven City Commission on Oct. 16, 2025, voted unanimously to adopt Resolution R‑25‑50, a debt management policy that establishes guidelines for the issuance and management of the city's debt.
The policy "provides guidance on the appropriate timing, purpose, type, and structure of debt issuance," City Manager said during the meeting, adding that a clear debt policy "safeguards the city's credit quality and reputation in the investment community." The policy outlines permitted uses of debt, limits to ensure prudent use, standards for structuring and refinancing, and compliance provisions. City Attorney Jeribatao Looney introduced the resolution for commission consideration.
Why it matters: A written debt policy is intended to support long‑term financial planning, preserve access to capital markets, and promote transparency to taxpayers and investors. Staff told commissioners the adoption is part of the city's strategic plan (cited as strategy 6.1 0.2) and that there was no immediate financial impact from adopting the resolution.
At the meeting, staff summarized key provisions as covering: the purposes for which debt may be issued, debt obligation types and structures, bond maturity limits, refinancing guidelines, permitted financing instruments, and compliance with state and federal rules. The city manager stated the policy is intended to align with best practices from the Government Finance Officers Association (GFOA).
The motion to adopt Resolution R‑25‑50 carried with all commissioners saying "aye." The roll call at the start of the meeting recorded Mayor Nathaniel J. Birdsong Jr., Mayor Pro Tem Yates, Commissioner Lisonbee, Commissioner Mercer and Commissioner Dantzler as present; no opposing votes or abstentions were recorded on the resolution.
The resolution text presented to the commission includes provisions for severability and administrative correction of scrivener errors and indicates an effective date in the document, though an explicit calendar effective date was not specified during the hearing.
