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Commission reviews formal debt management policy to codify financial best practices
Summary
Staff presented a debt management policy for commission adoption to formalize existing practices on use of debt, refinancing thresholds, permitted instruments and annual review; commissioners discussed governance, outside advisors, and long‑term debt reduction ideas.
City staff presented a ten‑page debt management policy and asked the commission to adopt the resolution that codifies long‑standing debt practices, clarifies objectives, and formalizes procedures used when issuing debt.
Key provisions discussed include limiting debt use to capital improvements (not recurring operations), alignment of borrowing terms with the useful life of financed assets, preference for…
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