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1. INTRODUCTION <br />The City of Pleasanton has established this Debt Management Policy ("Policy") to provide <br />clear and comprehensive guidelines for the issuance and financial management of debt <br />issued by the City of Pleasanton. This Policy supports the City of Pleasanton's mission of <br />providing responsive and high-quality public services for its citizens and ensures that the <br />City of Pleasanton is financially self- sustaining and fiscally strong. Finally, this Policy <br />requires that the City Council specifically authorize each debt financing by resolution. <br />2. PURPOSE <br />This Policy has been developed in accordance with practices recommended by the <br />Government Finance Officers Association for the purpose of providing a framework for debt <br />management and capital planning by the City. The guidelines established by this policy will <br />govern the issuance and management of all debt funded for long term capital financing <br />needs and short-term cash-flow needs. Changes in the capital markets and other <br />unforeseen circumstances may require action which may deviate from this Policy. In cases <br />which require exceptions to this Policy, the City Council approval will be necessary for <br />implementation. <br />3. GOALS <br />The purpose of this Debt Policy is to establish prudent debt issuance guidelines to ensure <br />that the City meets the following objectives: <br />• Identifying the purposes for which the debt proceeds may be used or are prohibited. <br />• Identifying the types of debt that may be issued or prohibited. <br />• Describing the relationship of the debt to, and integration with, the City's capital plan <br />objectives or budget. <br />• Establishing policy goals related to the City's planning goals and objectives. <br />• Mandating that the City comply with all debt covenants. <br />• Establishing to voters, taxpayers, and community that the City has plans and procedures <br />to implement its financing programs prudently and transparently. <br />• Demonstrating to rating agencies and investors that the City is well managed. Meeting <br />the ongoing obligations associated with the issuance of bonds under State, tax and <br />securities laws. <br />227 <br />