HomeMy WebLinkAboutD- 6 Debt Policy and Procedures for the City of Azusa ii / q /6(
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AGENDA ITEM
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: MARCIE MEDINA, DIRECTOR OF FINANCE
VIA: RICK COLE, CITY MANAGER0
DATE: NOVEMBER 19, 2001
SUBJECT: DEBT POLICY AND PROCEDURES FOR THE CITY OF AZUSA
RECOMMENDATION
It is recommended that the City Council approve and adopt the City's Debt Policy and
Procedures.
BACKGROUND
At the core of a well-managed debt program is government's debt policy. A debt policy
establishes the parameters for issuing and managing debt. The functions of a debt policy are to:
Provide guidance to community leaders so as not to exceed acceptable levels of indebtedness
and risk; direct staff on objectives to be achieved, both before bonds are sold and for the
ongoing management of the debt program; facilitate the debt issuance process by making
important decisions ahead of time; and promote objectivity in decision making.
FISCAL IMPACT
There is no fiscal impact as a result of this action. However, debt policy plays a significant role
in the City's overall financial health.
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