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6.A. - Page 5 of 29 <br />Under the governance and guidance of federal and state laws and the City's charter, ordinances, <br />and resolutions, the City may periodically enter into debt obligations that finance the construction <br />or acquisition of infrastructure and other assets or to refinance its existing debt into more favorable <br />terms. When issuing new debt or refinancing existing debt, the City seeks to: <br />• Maintain cost-effective access to the capital markets through prudent policies and <br />practices. <br />• Maintain manageable debt and debt service payments through effective planning. <br />• Achieve the highest possible credit ratings within the context of the City's financing needs <br />and financing capabilities. <br />Adhering to these objectives in issuing and administering debt will help ensure the City and its <br />residents obtain the best long-term financial value. <br />The City may also issue conduit debt obligations on behalf of private enterprise or non -city <br />agencies/authorities for the purpose of constructing facilities or assets that further the goals and <br />objectives of City government. In such cases, the City shall take reasonable steps to ensure the <br />financial feasibility of the project and the financial solvency of the borrower. It shall also take <br />reasonable precautions to ensure the public purpose and financial viability of such transactions. <br />The City will not use short-term borrowing to finance operating needs except in the case of an <br />extreme financial emergency that necessitates such a borrowing. <br />Tvaes of Debt <br />The City may issue all such types of debt as are permitted by the State Constitution, applicable <br />State St statutes, and -the City's Charter, the City's Municipal Code and may include, but <br />are not limited to: <br />1. Lease revenue bonds, certificates of participation, installment sale agreements, <br />financing agreements, and lease -purchase agreements (General Fund or Enterprise <br />Fund) <br />2. Revenue bonds <br />3. Bond anticipation notes <br />4. Grant anticipation notes <br />5. Tax and revenue anticipation notes <br />6. Land -secured financings, such as special tax bonds and assessment bonds <br />7. General obligation bonds <br />8. Tax increment financing <br />9. Conduit financings, such as financings for affordable rental housing and qualified <br />501 c3 organizations <br />10. Refunding Obligations <br />11. State Revolving Loan Funds <br />12. Lines of Credit <br />General Debt Guidelines <br />A. Purposes of Issuance - The City will utilize debt obligations only after giving due <br />consideration to all available funding sources, including available cash reserves, available <br />current revenues, potential future revenue sources, potential grants, and all other financing <br />2 <br />01 <br />