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Debt Management Policy <br />February 6, 2018 <br />Page 2 <br />incorporated where applicable. As such, submitted recommendations were reviewed and, when <br />appropriate, have been embedded into the final version of the Policy. <br />The Policy addresses several areas related to debt including: debt limits, debt structure, debt <br />issuance and debt management. The underlying eight objectives that the Policy aims to achieve are <br />to: <br />1) Ensure that all debt issuance is in alignment with the City's Strategic Plan as well <br />as the City's Capital Improvement Plan (CIP); <br />2) Determine appropriate use of debt proceeds & purpose of the debt; <br />3) Establish parameters and specific limits for issuing debt; <br />4) Identify financing options & types of debt that may be issued; <br />5) Ensure cost-effective borrowing by minimizing debt service and issuance cost; <br />6) Ensure compliance with applicable state and federal laws; <br />7) Ensure full and timely repayment of debt service; <br />8) Maintain full and complete financial disclosure and reporting of debt. <br />Adoption of the Policy will allow the City to issue debt in the future and provides guidelines on <br />issuing permissible debt. Staff will evaluate the Policy on an annual basis and make updates and <br />modifications when appropriate. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal No. 4 City Financial Stability, Objective 1 <br />(maintain a stable, efficient and transparent financial environment). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Francisco Gutierrez <br />Executive Director <br />Finance and Management Services Agency <br />EXHIBITS: 1. Debt Management Resolution and Policy <br />2. EMT Revisions to the Debt Management Policy <br />AC <br />55D-2 <br />