Legal Documents of Pittman Center

The purpose of this debt policy is to establish a set of parameters by which debt obligations will be undertaken by the Town of Pittman Center, Tennessee. This policy reinforces the commitment of the town and its officials to manage the financial affairs of the town to minimize risk, avoid conflicts of interest, and ensure transparency while still meeting the capital needs of the town. A debt management policy signals to the public and the rating agencies that the town is using a disciplined and defined approach to financing operating and capital needs and fulfills the requirements of the State of Tennessee regarding the adoption of a debt management policy.

The goal of this policy is to assist decision-makers in planning, issuing, and managing debt obligations by providing clear direction as to the steps, substance, and outcomes desired. In addition, greater stability over the long term will be generated by the use of consistent guidelines in issuing debt. (Ord. #241, June 2012, as replaced by Ord. #329, Jan. 2024 Ch2_01-18-24)