§ 1214. POLICY FOR DEBT MANAGEMENT.  


Latest version.
  • The Council shall establish a debt management policy for the purpose of issuing and managing the City's debt consistent with sound financial management practices. The Controller shall certify prior to each issuance decision the specific funding source(s) for the repayment of the debt and the reliability of the funding for the life of the debt. An affirmative vote of at least five members of the Council shall be required to amend the debt management policy, or to authorize debt other than as a part of the adoption of the annual budget.

(Amendment ratified 2012 General Municipal Election, 11-6-12.)