Legal Documents of Rocky Top

Code of Rocky Top

Table of Contents » Title 5 Municipal Finance and Taxation » Chapter 6 Debt Policy » § 5-608 Use of derivatives.
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Title 5
5-1
Title 5, Chapter 1
5-101
§ 5-101
Rocky Top
Title 5 : Municipal Finance and Taxation
Chapter 6 : Debt Policy

5-608 : Use of derivatives.

  1. The city chooses not to use derivative or other exotic financial structures in the management of the city's debt portfolio.
  2. Prior to any reversal of this provision:
    1. A written management report outlining the potential benefits and consequences of utilizing these structures must be submitted to the city council; and
    2. The city council must adopt a specific amendment to this policy concerning the use of derivatives or interest rate agreements that complies with the state funding board guidelines. (Ord. #467, Jan. 2012)