(A) The city will target long-term borrowing for construction of long-lived capital assets and economic development incentives only, with the remainder financed on a pay-as-you-go basis.
(B) The city will maintain good communications with bond rating agencies about its financial condition. The city will follow a policy of full disclosure on every financial report and bond prospectus.
(C) Every project proposed for financing through general obligation debt should be accompanied by a full analysis of the future operating and maintenance costs associated with the project.
(D) When optimal, debt will be retired early.
(Ord. 1000, passed 1-15-18)