Laserfiche WebLink
<br /> <br />CITY OF SAN LEANDRO <br /> <br />DEBT MANAGEMENT POLICY <br />Effective March 1, 2018 <br /> <br /> <br />This Debt Management Policy (the “Debt Policy”) of the City of San Leandro (the “City”) was <br />approved by the City Council to be effective as of the date first set forth above. The Debt Policy may be <br />amended by the City Council as it deems appropriate from time to time in the prudent management of <br />the debt and capital financing needs of the City. <br /> <br />1. Findings <br /> <br />This Debt Policy is intended to comply with Government Code Section 8855(i), effective on <br />January 1, 2017, and shall govern all debt undertaken by the City. <br /> <br />The City hereby recognizes that a fiscally prudent debt policy is required in order to: <br /> <br />• Maintain the City’s sound financial position. <br /> <br />• Ensure the City has the flexibility to respond to changes in future service priorities, <br />revenue levels, and operating expenses. <br /> <br />• Protect the City’s credit-worthiness. <br /> <br />• Ensure that all debt is structured in order to protect both current and future taxpayers, <br />ratepayers and constituents of the City. <br /> <br />• Ensure that the City’s debt is consistent with the City’s planning goals and objectives <br />and capital improvement program or budget, as applicable. <br /> <br />2. Policies <br /> <br />A. Purposes For Which Debt May Be Issued <br /> <br />(i) Long-Term Debt. Long-term debt may be issued to finance the construction, acquisition, <br />and rehabilitation of capital improvements and facilities, equipment and land to be owned and <br />operated by the City. <br /> <br />(a) Long-term debt financings are appropriate when the following conditions exist: <br /> <br />• When the project to be financed is necessary to provide basic services. <br /> <br />• When the project to be financed will provide benefit to constituents over multiple <br />years. <br /> <br />• When total debt does not constitute an unreasonable burden to the City and its <br />taxpayers and/or ratepayers, as applicable. <br /> <br />95