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��s <br />329 <br />330 <br />331 <br />332 <br />333 <br />33� <br />335 <br />336 <br />337 <br />338 <br />339 <br />34�0 <br />341 <br />342 <br />343 <br />344 <br />345 <br />346 <br />39�7 <br />34$ <br />349 <br />350 <br />351 <br />3S2 <br />353 <br />354 <br />35S <br />356 <br />3 5'� <br />358 <br />359 <br />3&0 <br />361 <br />362 <br />363 <br />364 <br />365 <br />366 <br />367 <br />368 <br />369 <br />370 <br />371 <br />372 <br />Ci�y oi <br />���� ����J .� <br />Minnesota USA <br />, <br />��o�� <br />Deb� 1'olicy <br />C� Ta define the ro�e pf debt in the City's total �inancial siratagy sa as to avoid using debt <br />in a manner � that weakens the City's overall �"inanezal coz�dition. �*���- ���*� �� �'~° <br />o Tn establis� ��a� limits an the arnouni Qf Citv debt which will ailow for <br />maz�a eahl� debt service costs * •� H���{, �' ����_� a=� �u� �'.�� �� W'' �'� � <br />:� <br />CI To rnaintain the best possib�e Moady's and Standard a�d Poor's credit rating <br />Po�icy <br />0 The City wil� confine long-tez�zn barrowing to capital improvements or projecfs fl�at <br />canr�ai: be finazzced from c�rrent reven�es. The City shall not use debt far tlae purcchase <br />of vehicles and other rolli�g s�t�ck <br />❑ Wher� the Cii:y £'znar�ces ca�ital parojects by issuing bonds, it will pay laack the bnnds <br />within a period not to e�ceed the expecied u�efixl life of ihe projeci <br />0 The City will try to keep the a.verage amaturity of general abli�ation bnnds at or below <br />ien yeaars <br />C] The City wi11 strive to keep the diarect debt per capita a�nd direct debt as a perc�nt of <br />esti�ated rnar�Cet value at or belaw the xnedian set o�t by the credit rating agencaes <br />C! Total gezaeral abligation clebt shali nnt exceed two percent o£ the rnarket value of <br />taxable property as re uired ea��ed� by State law <br />0 Th� City shall not use �e�-� �ebt �'or current operal:ions <br />❑ The Ciiy will maintain good comrnunications abqut its financial canditifln wit� cz�edit <br />rating agencies <br />❑ Tk�e City will follow a p�liey a� full disclasure on ever� finaneial report and bo�d <br />prospectus <br />❑ Refi�a�acing or Y�ond re�unding r�i11 only be undertaken when t�ere is signi%cant <br />ecanotxaic advan�age to t�e City, and �rhen it does �at conflict with ot�er f scal or crec�it <br />policies <br />❑ The maintenance of ihe 1�est passib�e cred'zt ra�ing shall be a major iactor in all financial <br />deciszons. For the ases of is�uin deht bon.d ratin cate ories s�all be used as a <br />r�ea�s af assessin� the Cit�s �inancia� condition,_ <br />12 <br />