CCA(LOCAL) - LOCAL REVENUE SOURCES: BOND ISSUES
The Superintendent or designee shall develop administrative regulations to address the District's debt management. The regulations shall stablish well-defined guidelines for the issuance and management of debt that is payable from the interest and sinking fund.
Debt management procedures shall incorporate prudent debt management practices that:
- Maintain the District's financial stability;
- Provide debt management flexibility;
- Preserve public trust;
- Minimize cost to taxpayers;
- Minimize borrowing costs;
- Preserve access to capital markets; and
- Demonstrate administrative oversight of debt programs to credit rating agencies and taxpayers.
Debt management procedures shall include guidelines for the use, management, and issuance of debt obligations including, but not limited to:
- Allowable purposes for the issuance of debt;
- Repayment of debt obligations;
- Composition of the debt portfolio and debt strategies;
- Refunding debt obligations;
- Methods of sale the District may use;
- Credit ratings and the use of credit enhancement;
- Selection of consultants, underwriters, and remarketing agents;
- Investment of debt proceeds;
- Compliance with federal arbitrage rebate regulations; and
- Compliance with continuing disclosure requirements.
Compliance with Law and Sound Management Requirements
The District shall structure and manage its debt in compliance with all federal, state, and local requirements and shall manage its debt in compliance with governmental and industry recommended debt management practices.