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  <br /> ‐3‐ <br />8. Tax increment financing <br />9. Conduit financings, such as financings for affordable rental housing and qualified <br />501c3 organizations <br />10. Refunding Obligations <br />11. State Revolving Loan Funds <br />12. Lines of Credit <br />General Debt Guidelines <br />Purposes of Issuance - III. General Debt Governing Policies <br /> <br />The City hereby establishes the following policies concerning the issuance and administration of  <br />debt:  <br /> <br />A. The City will utilize debt obligations only for acquisition, construction, or remodeling  <br />of capital improvement projects only after giving due consideration to all available funding  <br />sources, including available cash reserves, available current revenue sourcesrevenues, potential  <br />future revenue sources, potential grants, and all other financial resourcesfinancing sources  <br />legally available to be used for such purposes. projects. <br /> <br />IV. purposes.  Long-termGeneral Debt Guidelines <br /> <br />The following guidelines shall govern the issuance and administration of debt obligations:  <br /> <br />A. A. Purposes of Issuance -–Long Term debt will not be issued for operations or <br />maintenance costs. Expenditure of bond proceeds should be limited to major, non- <br />recurring expenditures/expenses, including but not limited to: the financing of costs related <br />to capital project planning and design, land acquisition, real property, and equipment <br />acquisition,; the construction or renovation of buildings and permanent structures and <br />the equipping thereof,; financing costs related to the issuance of securities, capitalized <br />interest, necessary or financially prudent debt service reserves,; or other costs as <br />permitted by law. Refunding bond issues designed to restructure currently outstanding <br />debt are an acceptable use of bond proceeds. <br /> <br />B. B. Approval by the City Council – All long-term financing transactions shall be <br />approved by the City Council. Such approvals shall not be on the consent calendar. The <br />City Council shall comply with all public hearing requirements applicable to the specific <br />type of bond being approved. Port of Redwood City Bonds are approved by the Board of <br />Port Commissioners and the City Council. <br /> <br />C. Maximum Maturity - All debt obligations shall have a maximum maturity of the earlier <br />6.1.C. - Page 12