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City of Santa Ana <br />Administrative <br />Policies and Procedures <br />Mayor's Authorization <br />Subject <br />Date <br />Debt Management Policy <br />PURPOSE <br />This Debt Policy ("policy") sets forth certain debt management objectives and establishes overall <br />parameters for issuing and administering debt for which the City of Santa Ana ("City"), the Santa Ana <br />Financing Authority ("Financing Authority") and/or the Successor Agency to the Santa Ana Redevelopment <br />Agency (collectively, the "Santa Ana Issuers") are financially obligated or are responsible for managing. <br />Included in this policy are general provisions related to: 1) debt limits, 2) debt structure, 3) debt issuance <br />and 4) debt management, which are the four major categories addressed within this Policy. <br />This Policy is •••194eEt W FeEGMMeRd GAS f9F imi;Fevements Ran R - basis. - sh shall be reviewed <br />annually by the Executive Director of the Finance & Management Services Agency ("Finance") or his/her <br />designee and updated as needed. Any changes to this Policy are subject to City Council approval. -is <br />appmpFiete. <br />This Debt Management Policy is intended to comply with California Government Code Section 885561 <br />which reouires municipalities that issue debt to develop and apply debt management Policies to ensure <br />that debt is issued and managed Prudently. <br />The following are general objectives that this policy intends to accomplish: <br />• Ensure that all debt issuance is in alignment with the City's Strategic Plan goals & objectives as well <br />as the City's Capital Improvement Plan; <br />• Determine appropriate use of debt financing & the purpose of the debt; <br />• Establish parameters and specific limits for issuing debt; <br />• Identify financing options & types of debt that may be issued; <br />• Ensure cost-effective borrowing by minimizing debt service and issuance costs; <br />• Ensure compliance with applicable state and federal laws; <br />• Ensure full and timely repayment of debt service; and <br />• Maintain full and complete financial disclosure and reporting of debt. <br />All eight objectives are reflected within the four major categories: 1) debt limits, 2) debt structure, 3) debt <br />issuance and 4) debt management. <br />Prior to any issuance of debt, the requesting department and, when appropriate, the Finance & <br />Management Services Agency ("Finance"), will conduct a comprehensive assessment to ensure the <br />following criteria are met: <br />55D-13 <br />EXHIBIT 2 <br />