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Council approves revisions to debt management policy after staff review
Summary
The council approved staff‑recommended clarifications to the city’s debt management policy, adding interim financing options, clearer lien/callback language, counsel approval steps and a requirement to review comparable pricing; vote 6‑0.
The Modesto City Council on June 10 approved updates to the city’s debt management policy as part of an annual review by the finance department.
Diana Christianson, director of finance, told the council the review was coordinated with the city’s municipal advisors (PFM) and bond counsel to ensure alignment with applicable rules and the state code. The updates add clearer objectives for specific…
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