DEBT MANAGEMENT POLICY
COUNCIL POLICY 1-15
JULIA H. COOPER, DIRECTOR OF FINANCE
LUZ COFRESÍ-HOWE, ASSISTANT DIRECTOR OF FINANCE
QIANYU SUN, DEPUTY DIRECTOR OF FINANCE – DEBT & TREASURY MANAGEMENT CITY COUNCIL/CSJFA/SARA AGENDA: MARCH 21, 2023
ITEM: 1
FILE: 23-406
POLICY OVERVIEW
• The Debt Management Policy sets forth certain debt management objectives and establishes overall parameters for issuing and administering debt that the City and Covered Entities are financially obligated and responsible
• Proposed Policy changes need to be approved by City Council, City of San José Financing Authority Board, and Successor Agency to the Redevelopment Agency Board
2 DEBT MANAGEMENT OBJECTIVES
• Minimize debt service and issuance costs
• Maintain access to cost effective borrowing
• Achieve the highest practical credit rating
• Full and timely repayment of debt
• Maintain full accurate and timely financial disclosure and reporting • Ensure financial controls are in place with respect to proceeds of debt issuances
• Ensure compliance with applicable state and federal laws 3 EXP ANSIONOF RECORD KEEPING
REQUIREMENTS
• Broaden the record keeping requirements to the longest term required by the Debt Management Policy, the City Records Retention Policy, or regulatory agencies.
• Ensure records related to debt issuance and management are maintained in accordance with the most stringent regulatory requirements, minimizing the possibility of noncompliance. 4 RECOMMENDA TION
1) Accept the report and approve the proposed revisions to the Council Policy 1-15, City of San José Debt Management Policy 2) Adopt the amended policy by resolution of the City Council, City of San José Financing Authority Board, and Successor Agency Board. 5