MEETING DATE: 6/26/2018
DEPARTMENT: COUNTY ADMINISTRATION OFFICE
DEPT HEAD/DIRECTOR: Ray Espinosa
AGENDA ITEM PREPARER: Dulce Alonso
SBC DEPT FILE NUMBER: COUNTY ADMINISTRATION OFFICE - R. ESPINOSA Approve a Debt Management Policy to allow San Benito Cou
SUBJECT:
COUNTY ADMINISTRATION OFFICE - R. ESPINOSA
Adopt a resolution approving a Debt Management Policy to allow San Benito County to comply with with Government Code Section 8855(i) to govern all debt undertaken.
SBC FILE NUMBER: 425
RESOLUTION NO: 2018-32
AGENDA SECTION:
CONSENT AGENDA
BACKGROUND/SUMMARY:
Under Senate Bill 1029 (“SB 1029”), which was signed by the California Governor on September 12, 2016, California public agencies that issue debt must adopt debt management policies that include all of the following:
(A) The purposes for which the debt proceeds may be used.
(B) The types of debt that may be issued.
(C) The relationship of the debt to, and integration with, the issuer’s capital improvement program or budget, if applicable.
(D) Policy goals related to the issuer’s planning goals and objectives.
(E) The internal control procedures that the issuer has implemented, or will implement, to ensure that the proceeds of the proposed debt issuance will be directed to the intended use.
BUDGETED: