From
Tannie Camarata
Title
Resolution approving the current City of Grand Prairie Debt Management Policy without revision to become effective upon passage and approval
Presenter
Diana G. Ortiz, Chief Financial Officer
Recommended Action
Approve
Analysis
The City's Debt Policy is reviewed each year for necessary revisions for operational procedures, staffing changes and/or new state laws. Staff found no changes to the City's Debt Management Policy except to have it approved by the City Council. The Finance and Government Committee reviewed the policies at the October 14, 2014 meeting and recommends adoption of the current policy without revision.
Financial Consideration
There is no financial impact resulting from this action.
Body
A RESOLUTION OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE CURRENT CITY OF GRAND PRAIRIE DEBT MANAGEMENT POLICY WITHOUT REVISIONS TO BECOME EFFECTIVE UPON PASSAGE AND APPROVAL
WHEREAS, it is the goal of the City to maintain a long-term and stable positive financial condition; and
WHEREAS, well planned and prudent debt is essential to the achievement of the City's goal; and
WHEREAS, the City is required to review and adopt the City's Debt Management Policy on an annual basis;
NOW THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS THAT:
Section 1. That the City Council hereby adopts the current City's Debt Management Policy without changes.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 14TH DAY OF OCTOBER, 2014.