HomeMy WebLinkAbout~Master - City's Debt Policy RESOLUTION NO. 17-414
RESOLUTION APPROVING DEBT POLICY
FOR THE CITY OF AMES
WHEREAS, the Government Finance Officer Association's best practices recommend that
local governments adopt a comprehensive written debt management policy; and,
WHEREAS, debt management policies are written guidelines, allowances, and restrictions
that guide the debt management practices, including the issuance process, management of a debt
portfolio, and adherence to various laws and regulations; the document articulates policy goals,
provides guidelines for the structure of debt issuance, and demonstrates a comritinent to long-term
capital and financial planning; and,
WHEREAS, adherence to a debt management policy signals to rating agencies and the capital
markets that the City of Ames is well managed and, therefore, is likely to meet its debt obligations
in a timely manner; and,
WHEREAS, the Policy is consistent with long-standing practices followed by the City, and
allows for flexibility within the policy when specifically approved by the Council; and,
WHEREAS, though the written Policy does not change the city's approach for management
of debt, its adoption by the Mayor and Council provides additional transparency and helps to ensure
that there is a common understanding among elected officials and staff regarding the City of Ames'
approach to debt financing.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the Debt Policy for the City of Ames is hereby approved.
ADOPTED THIS 271h day of June, 2017.
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Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Beatty-Hansen
Seconded by: Betcher
Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin,Nelson, Orazem
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 27'' day of June, 2017.