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<br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: February 3, 1998 <br />Action Agenda <br />Item No. ~~ _ q <br />SUBJECT: Debt Management Policy <br />DEPARTMENT: Finance PUBLIC HEARING: (Y/N) ~Vo;-, <br />BUDGET AMENDMENT: (Y/N) 1Vo.--_ `; <br />ATTACHMENT(S): <br />Draft Policy <br />INFORMATION CONTACT: <br />Ken Chavious, Finance Director, 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 review and comment on a draft debt management policy for Orange County. <br />BACKGROUND: During the Commissioners' annual planning retreat on December 6, 1997, the <br />Board and staff discussed the value of developing and adopting a formal policy covering <br />management of the County's long-term debt. The Board indicated that it would like to consider <br />such a policy, and staff have prepared the attached draft as a beginning point for discussion. <br />The Finance Director will present a brief overview of the draft policy and respond to Board <br />questions about any specifics concerning proposed provisions. Staff will take any Board comments, <br />incorporate those along with any new information gleaned from reviewing debt policies of other <br />jurisdictions and recommendations from the Government Finance Officers Association, and bring <br />back a revised policy proposal for the Board to consider adopting at a subsequent meeting. <br />RECOMMENDATION(S): The Manager recommends that the Board review the proposed <br />policy, and provide appropriate feedback and direction to the Manager and staff. <br />