Legal Documents of Pittman Center

Code of Pittman Center

Table of Contents » Title 5 Municipal Finance and Taxation » Chapter 5 Debt Policy » § 5-509 Costs of debt.
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Title 5
5-1
Title 5, Chapter 1
5-101
§ 5-101
Pittman Center
Title 5 : Municipal Finance and Taxation
Chapter 5 : Debt Policy

5-509 : Costs of debt.

  1. All costs associated with the initial issuance or incurrence of debt, management and repayment of debt (including interest, principal, and fees or charges) shall be disclosed prior to action by the town board of mayor and aldermen in accordance with the notice requirements stated above.
  2. In cases of variable interest or non-specified costs, detailed explanation of the assumptions shall be provided along with the complete estimate of total costs anticipated to be incurred as part of the debt issue.
  3. Costs related to the repayment of debt, including liabilities for future years, shall be provided in context of the annual budgets from which such payments will be funded (i.e., general obligations bonds in context of the general fund, revenue bonds in context of the dedicated revenue stream and related expenditures, loans and notes). (Ord. #241, June 2012, as replaced by Ord. #329, Jan. 2024 Ch2_01-18-24)