Title
Approving a resolution adopting a City of Pflugerville Debt Management Policy.
Summary
The City of Pflugerville currently has an adopted Debt Management Policy. This policy formalizes established guidelines for the issuance and management of debt and related financing activities. In addition, best practices established by organizations such as credit rating agencies and the Government Finance Officers Association recommend the adoption of comprehensive, written debt management policies.
Finance staff along with the City’s financial advisors and bond counsel periodically review and update the policy to ensure local, state, and federal laws and regulations are adhered to in order that the City maintain a sound debt position and that credit quality is protected. This policy has been updated to reflect continuing disclosures as required by the Securities and Exchange Committee.
This policy has been reviewed by the City’s Finance Director, the financial advisor, RBC Capital Markets, LLC, and the City’s bond counsel, McCall, Parkhurst & Horton LLP.
Prior City Council Action
09/10/2019
Deadline for City Council Action
Preferred prior to FY21 debt issuance this Summer
Funding Expected: Revenue __ Expenditure __ N/A _x_
Budgeted Item: Yes __ No __ N/A _x_
Amount: __N/A______
1295 Form Required? Yes __ No _x_
Legal Review Required: N/A __ Required _x_ Date Completed: _05/16/2021__________
Supporting documents attached:
Resolution, Debt Management Policy
Recommended Action
Staff recommends approval of the policy as presented.