From
Brady Olsen; Treasury and Debt Manager
Title
Debt Briefing Policy Update
Presenter
Brady Olsen; Treasury and Debt Manager
Andre Ayala, Financial Advisor
Recommended Action
Approve
Analysis
We are updating the City's debt policy. The Debt Management Policies set forth comprehensive guidelines for the financing of capital
expenditures.
Highlights include:
General administrative clean-up
Allowance of greater use of short term debt and debt financing of smaller equipment
Adding greater checks to the use of capital leasing
Adjusting our coverage goals for WWW fund
Allowing greater flexibility in the selection of rating agencies
Additionally, per prior Council action, we will present an update as well as a draft bond ordinance for the issuance of CO debt. Due to posting requirements, the sale was delayed from the originally scheduled January 5th to the next Council meeting on January 19th. We do not anticipate any negative effects from this change. The CO issuance will be used to fund the annual CIP.
Financial Consideration
A CO issuance will fund the annual CIP.