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jmf 1/29/18 <br />City of Sana Ana <br />Administrative <br />Policies and Procedures <br />Mayor's Authorization <br />Subject <br />Debt Management Policy <br />PRD E <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 <br />Ana Financing Authority ("Financing Authority') and/or the Successor Agency to the Santa Ana <br />Redevelopment Agency (collectively, the "Santa Ana Issuers") are financially obligated or are <br />responsible for managing. Included in this policy are general provisions related to: 1) debt llmlts, <br />2) debt structure, 3) debt Issuance and 4) debt management, which are the four major categories <br />addressed within this Policy. <br />This Policy shall be reviewed annually by the Executive Director of the Finance & Management <br />Services Agency ("Finance") or his/her designee and updated as needed. Any changes to this <br />Policy are subject to City Council approval. <br />This Debt Management Policy is intended to comply with California Government Code Section <br />8855(1), which requires municipalities that issue debt to develop and apply debt management <br />policies to ensure that debt is issued and managed prudgntly. <br />REST POLICY OWWIVES <br />The following are general objectives that this policy Intends to accomplish: <br />r Ensure that all debt issuance is in alignment with the City's Strategic Plan goals & <br />objectives as well 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 <br />structure, 3) debt issuance and 4) debt management. <br />Resolution No. 2018-009 <br />Page 3 of 9 <br />