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6.H. - Page 3 of 28 <br />FISCAL IMPACT <br />Implementing this policy would have no budgetary impact other than the cost of periodic training for staff <br />and City Council members, which is already included in the Administrative Services Department, Finance <br />Division budget. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public Notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />ALTERNATIVES <br />The City Council may direct staff to make changes to the policy or request more information regarding <br />their responsibilities and/or training prior to approving this policy. Adopting and regularly reviewing the <br />debt disclosure policy is considered a best practice, and not updating the policy to adhere to the SEC's <br />amendments to the continuing disclosure provisions of Rule 15c2-12 effective this year may potentially <br />adversely affect the ability of the City to attract underwriters to bid on bonds at competitive sales in the <br />future. <br />ATTACHMENTS <br />Attachment A: Resolution accepting the updated Debt Disclosure Policies and Procedures <br />Attachment B: Debt Disclosure Policies and Procedures in strike -text format <br />REPORT PREPARED BY: <br />Sylvia Bravo Peters, Principal Analyst— Finance <br />speters@redwoodcity.org <br />(650) 780-7073 <br />APPROVED BY: <br />Kimbra McCarthy, Assistant City Manager and Administrative Services Director <br />Melissa Stevenson Diaz, City Manager <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />299 <br />