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Council updates debt policy to reflect statutory change; adopts resolution
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Summary
The council adopted an amended debt policy to reflect that the state statutory debt limit increased in 2008 from 2% to 3% and to make minor wording and formatting changes; council noted the city’s debt level is well below limits.
The Roseville City Council unanimously adopted a resolution revising the city’s debt policy on Oct. 27 to align internal policy language with a statutory change increasing the allowable debt limit.
Finance Director Michelle Petrick told the council that the city had reviewed its policies and updated the debt…
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