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Board briefed on draft financial policies, including option to borrow or use partner jurisdictions' credit
Summary
Staff presented draft financial policies that outline how the district would approach borrowing—either by issuing debt itself or using another jurisdiction's credit for bonds—and clarified the policy does not obligate the district to bond immediately or use borrowed funds for operations.
The King County Flood Control District board received a briefing May 13 on draft financial policies that describe how the district would approach borrowing for capital projects, including issuing debt directly or using another jurisdiction's credit to issue bonds on the district's behalf.
Executive Director Michelle Clark said the document, labeled a financial policy rather than a "bonding policy," lays…
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