Resolution No. 4049
STATE OF CALIFORNIA ) RESOLUTION NO. 4049
COUNTY OF RIVERSIDE ) ss
CITY OF SAN JACINTO )
A RESOLUTION OF THE CITY COUNCIL OF
THE CITY OF SAN JACINTO, CALIFORNIA,
ADOPTING A DEBT MANAGEMENT POLICY
WHEREAS, the City Council (the “City Council”) of the City of San Jacinto (the “City”) is charged with establishing policies to guide the various functions of the City and its related entities and to establish procedures by which such functions are performed; and
WHEREAS, on September 12, 2016, the Governor of the State of California signed into law Senate Bill No. 1029 (“SB 1029”); and
WHEREAS, pursuant to California Government Code Section 8855, as amended by SB 1029, state and local governments are now required to certify to the California Debt and Investment Advisory Commission (“CDIAC”) on their report of proposed debt issuance submitted prior to the issuance of any debt that they have adopted local debt policies concerning the use of debt and that the contemplated debt issuance is consistent with those debt policies; and
WHEREAS, the City Council desires to comply with SB 1029 and to adopt the City of San Jacinto Debt Management Policy (the “Debt Management Policy”).
NOW, THEREFORE, the City Council of the City of San Jacinto hereby adopts the Debt Policy as set forth in Exhibit A attached hereto and incorporated herein by this reference.
Resolution No. 4049
PASSED, APPROVED AND ADOPTED this 3
rd day of December 2024, by the following
vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
CITY OF SAN JACINTO:
________________________
Phil Ayala, Mayor
ATTEST:
_________________________
Julia Espinoza, City Clerk
APPROVED AS TO FORM:
BEST, BEST & KRIEGER LLP
___ _____
Craig Hayes, City Attorney
Resolution No. 4049
CERTIFICATION
STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss
CITY OF SAN JACINTO )
I, Julia Espinoza, City Clerk of the City of San Jacinto, do hereby certify that the foregoing Resolution No. 4049 was passed, approved, and adopted at the Regular Meeting of the San Jacinto City Council held on the 3
rd day of December 2024, by the
following vote:
AYES:
NAYS:
ABSENT:
ABSTAIN:
WITNESS MY HAND AND OFFICIAL SEAL this 3
rd day of December 2024.
_____________________________
Julia Espinoza, City Clerk
City of San Jacinto
Resolution No. 4049
EXHIBIT “A”
DEBT MANAGEMENT POLICY