The Copperas Cove City Council adopted Resolution No. 2025-21, formalizing revisions to the city debt management policy including new reporting and allocation rules for bond proceeds and interest earnings.

Director of Financial Services Velia Key summarized the revisions: the finance director must provide quarterly reports on interest earnings from bond proceeds; interest may be applied to debt principal and interest payments, fund capital expenditures or meet IRS requirements; the city manager may designate which projects receive interest revenue; a bonds fund review committee will allocate savings to a contingency account; and the debt service fund balance should not exceed $500,000. Staff recommended approval of the resolution.

Councilmember Rita Hogan moved to approve Resolution No. 2025-21 and Del Treadway seconded. Council adopted the resolution with no recorded opposition.

City staff did not provide projections for interest earnings or examples of projects that would receive interest funding at the meeting.