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Middleton committee reviews debt-management policy, debates per-capita and levy targets
Summary
Finance staff reviewed Middleton's 2017 debt-management policy and presented options including indexing the per-capita debt target to inflation, removing it, increasing the debt-service levy target from 30% to 40%, and using competitive sales for large bond issues.
City finance staff presented a comprehensive review of Middleton's debt management policy and policy targets at the Aug. 19 Finance & Personnel Committee meeting, prompting extended discussion about how the city measures and constrains borrowing.
"By state law, municipalities are restricted to issuing outstanding general obligation debt equal to no more than 5% of the total equalized value of taxable property," a staff presenter said, noting Middleton currently self-limits that maximum to two-thirds of the state cap (3.33%). The memo and presentation outlined other policy targets…
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