From
Diana G. Ortiz, Chief Financial Officer
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 Management Policy is reviewed each year for necessary revisions, operational procedures, staffing changes and/or new state /federal laws. Staff found no needed changes to the current policy subject to it's annual review and approval by the City Council. The Finance and Government Committee reviewed the policies at the October 13, 2015 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 REVISION 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 13TH DAY OF OCTOBER, 2015.