HAYWARD CITY COUNCIL
RESOLUTION NO. 23-______
Introduced by Council Member
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HAYWARD APPROVING UPDATES OF THE CITY’S DEBT ISSUANCE AND MANAGEMENT POLICY AND DEBT DISCLOSURE POLICY WHEREAS, pursuant to California Government Code Section 8855(i), California public agencies that issue debt must adopt debt management policies that meet certain criteria; and WHEREAS, the Securities and Exchange Commission (the “SEC”) recommends that public agencies that issue debt adopt policies and procedures to govern compliance and implement training with respect to their obligations under federal securities law; and WHEREAS, after consulting with the City’s bond counsel, staff recommends that the City update its existing Debt Issuance and Management Policy to comply with Section 8855(i) and update its Debt Disclosure Policy to comply with best practices; and WHEREAS, there has been presented to this meeting a proposed Debt Issuance and Management Policy and a proposed Debt Disclosure Policy; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hayward as follows:
Section 1. Approval of Debt Issuance and Management Policy. The City Council hereby approves the updated Debt Issuance and Management Policy in the form attached to this Resolution as Exhibit 1 to Attachment IX.
Section 2. Approval of Debt Disclosure Policy. The City Council hereby approves the updated Debt Disclosure Policy in the form attached to this Resolution as Exhibit 1 to Attachment IX.
Section 3. Effective Date. This Resolution shall take effect from and after the date of its passage and adoption.
HAYWARD, IN COUNCIL, HAYWARD, CALIFORNIA _______________________, 2023.
ADOPTED BY THE FOLLOWING VOTE:
AYES: COUNCIL MEMBERS:
MAYOR:
NOES: COUNCIL MEMBERS:
ABSTAIN: COUNCIL MEMBERS:
ABSENT: COUNCIL MEMBERS:
ATTEST:
City Clerk of the City of Hayward
APPROVED AS TO FORM:
_________________________________________
City Attorney of the City of Hayward
ATTACHMENT 1
DEBT ISSUANCE AND MANAGEMENT POLICY
ATTACHMENT 2
DEBT DISCLOSURE POLICY
ATTACHMENT IX
ATTACHMENT IX