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RFP No. 21-025 <br />OR kAj EXHIBIT B <br />� o <br />� _.E ! <br />3 z <br />1�. <br />Proposed PolicyDocument <br />Addresses two basic strategies of contributing more <br />to pay down faster, and/or debt refinancing at a <br />lower rate <br />• Apply ADP's to layers with long amortization, maximizing <br />overall savings <br />• Consider one-time money for ADP's or set -aside in 115 <br />Trust for greater control over investments <br />• Consider tax exempt exchanges only if at least $20 million <br />of cash is available <br />• Consider debt refinancing if: <br />Interest rate is at least 30% less than CaIPERS rate <br />No more than 90% of debt is refinanced <br />Life of debt is not extended <br />Risk analysis is performed <br />9UFI <br />