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ORANGE COUNTY <br />_ .. BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: May 6, 1998 <br />Action Agenda <br />Item No. q _ .¢ <br />i~ <br />SUBJECT: Debt Management Policy <br />DEPARTMENT: Finance <br />PUBLIC HEARING: (Y/N) <br />BUDGET AMENDMENT: (Y11S) ~~- <br />ATTACHMENT(S): <br />Proposed Policy <br />INFORMATION CONTACT: <br />Ken Chavious, ext 2450 <br />TELEPHONE NUMBERS: <br />Hillsborough 732-8181 <br />Chapel Hill 968-4501 <br />Durham 688-7331 <br />Mebane 227-2031 <br />PURPOSE: To consider adopting a debt management policy for Orange County. <br />BACKGROUND: At various meetings between December 1997 and February 1998, the Board of <br />Commissioners has reviewed several successive drafts of a proposed debt management policy for <br />the County. Board comments have been incorporated in the final draft of the policy, which is <br />presented to the Board here for formal adoption. Staff have also solicited, at the Board's request, <br />input from the Local Government Commission (LGC) and the Institute of Government (IOG), <br />regarding the proposed policy. LGC staff and Dr. Jack Vogt at the IOG submitted a number of <br />constructive and helpful suggestions. Their comments have also been incorporated in the final <br />version of the policy, and aze highlighted in bold text. <br />RECOMMENDATION(S): The Manager recommends that the Board adopt the debt <br />management policy. <br />• <br />