Legal Documents of Dandridge

Debt policies and procedures are tools that ensure that financial resources are adequate to meet the town's long-term capital planning objectives. In addition, the debt policy helps to ensure that financings undertaken by the town have certain clear, objective standards that allow the town to protect its financial resources in order to meet its long-term capital needs.

The debt policy formally establishes parameters for issuing debt and managing a debt portfolio which considers the town's specific capital improvement needs; ability to repay financial obligations; and, existing legal, economic, and financial market conditions. Specifically, the policies outlined in this document are intended to assist in the following:

1. To guide the town in policy and debt issuance decisions,
2. To maintain appropriate capital assets for present and future needs,
3. To promote sound financial management,
4. To protect the town's credit rating,
5. To ensure the town's debt is issued legally uoder applicable state and federal laws,
6. To promote cooperation and coordination with other parties in the financing, and
7. To evaluate debt issuance options. (Ord. #11/12-08, Nov. 2011)