Adherence to a debt management policy signals to rating agencies and the capital markets that the city is well managed and should meet its obligations in a timely manner. Debt levels and their related annual costs are important long-term obligations that must be managed within available resources. This policy provides guidelines for the city to manage its debt program within those available resources and provides a foundation for prudent long-term financial management.
(Ord. 31-16, passed 9-12-16)