Establish guidelines for debt financing that will provide needed capital equipment and infrastructure improvements while minimizing the impact of debt payments on current revenues.
- The City will confine long-term borrowing to capital improvements.
- The City will follow a policy of full disclosure on every financial report and bond prospectus.
- The City will strive to maintain its high bond rating, currently AAA / Aaa, and will receive credit ratings on all its bond issues.
- General obligation debt will not be used for self-supporting enterprise activity.
- The City shall ensure that its debt margins are within the 3% TCV (true cash value) limitation as set forth in ORS 287.004.
- The City will use voter-approved general obligation debt to fund general-purpose public improvements that cannot be financed from current revenues.