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Agenda - 05-09-2017 - 2.2 Debt Management Policy
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Agenda - 05-09-2017 - 2.2 Debt Management Policy
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5/5/2017 1:45:02 PM
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BOCC
Date
5/9/2017
Meeting Type
Work Session
Document Type
Agenda
Agenda Item
2.2
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Minutes 05-09-2017
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\Board of County Commissioners\Minutes - Approved\2010's\2017
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April 5, 2011 <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> DEBT MANAGEMENT POLICY <br /> The County has long recognized the importance of proper long-range planning in <br /> order to meet capital improvement needs as they arise without experiencing <br /> dramatic impacts on operational cost and debt service. The following policy <br /> statements will provide guidance on the issuance of dept to help insure that the <br /> County maintains a sound debt position and that its credit quality is protected. In <br /> conjunction with the County's Capital Policies, these policy statements rationalize <br /> the decision making process, identify objectives for staff to implement, and <br /> demonstrate a commitment to long term financial planning objectives. In addition, <br /> this debt management policy will allow for an appropriate balance between the <br /> established debt parameters and providing flexibility to respond to unforeseen <br /> circumstances and new opportunities. <br /> POLICY STATEMENTS <br /> Purpose and Type of Debt <br /> 1. Incurrence of debt or long-term borrowing will only be used for the purpose of <br /> providing financing for capital projects to include, but not limited to: <br /> a. Construction of new School and County facilities <br /> b. Renovation and repair of existing School and County facilities <br /> c. Acquisition of real property (land and/or buildings) <br /> d. Construction or expansion of Public Utilities. <br /> e. Providing funds for Affordable Housing Projects <br /> f. Construction, acquisition and development of Parks <br /> g. Purchase of major equipment <br /> Debt issuance will not be used to finance current operations or normal <br /> maintenance. <br /> 2. The types of debt instruments to be used by the County include: <br /> a. General Obligation Bonds <br /> b. Bond Anticipation Notes <br /> c. Installment Purchase Agreements (private placement) <br /> d. Special Obligation Bonds (landfill only) <br /> e. Certificates of Participation, when feasible <br /> f. Revenue Bonds <br /> 3. All debt issued, including installment purchase methods, will be repaid within <br /> a period not to exceed the expected useful life of the improvements or <br /> equipment financed by the debt. <br /> 4. The County will not issue tax or revenue anticipation notes. <br />
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