Page 3 - 2017 Bonded Debt Summary
P. 3


        This document has been developed in order to provide a summary of the bonded
        debt that is managed by the City. Included in this presentation are all bond issues
        sold on the public financing market as well as bonds issued as private placement

        debt with specific banks or other financial institutions. This data is also available in
        the City’s Comprehensive Annual Financial Report under Footnote 6. This report
        does not include other liabilities such as accounts payable, inter-fund loans or
        compensated absences.

        Public  benefit  of  using  municipal  debt:  The  municipal  debt  markets
        provide a valuable tool for the construction of capital improvement projects. The
        debt  markets  provide  the  funding  necessary  to  build  large,  high  priority  capital
        improvements  that  benefit  the  citizens,  such  as  roads  and  other  infrastructure,

        when needed rather than waiting until sufficient levels of cash have been built up.
        Generally the municipal debt market is able to provide funding on a tax exempt basis
        which means the borrowing costs are reduced from non-municipal debt. The City
        has adopted a Debt Management policy which states that “debt will only be used
        to finance capital projects when it is an appropriate means to achieve an equitable

        allocation of costs between current and future beneficiaries as determined by the
        City Council.”
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