(A) The city seeks to maintain the highest possible credit rating for all categories of its debt without compromising the delivery of its basic services. The administration and City Council will attempt to take prudent steps to maintain the highest ratings possible, but recognizes that external factors impact the rating decision making process. The city will maintain an ongoing dialogue with rating analysts in an effort to ensure that the analysts fully understand its capital program, operations, financial position and decision making processes. The city's debt policy will be communicated to the rating agencies, and deviations from the stated policy will be fully disclosed.
(B) Use of credit enhancements: The city will use bond insurance and/or letters of credit when it is economically or administratively advantageous to do so, or when required for the marketing of the bonds.
(Ord. 31-16, passed 9-12-16; Am. Ord. 37-19, passed 8-26-19)