City staff presented a ten‑page debt management policy and asked the commission to adopt the resolution that codifies long‑standing debt practices, clarifies objectives, and formalizes procedures used when issuing debt.

Key provisions discussed include limiting debt use to capital improvements (not recurring operations), alignment of borrowing terms with the useful life of financed assets, preference for fixed‑rate and level debt service structures, and a refinancing standard that requires at least 3% present‑value savings unless there are compelling reasons to proceed. Permitted instruments listed in the policy include general obligation bonds, revenue bonds, state revolving fund loans, direct placements, and capital leases. Staff said the policy was reviewed by the city’s municipal advisor and bond counsel and was identified as a strategic plan action.

Commissioners asked staff whether the policy implementation would be managed in‑house and whether external advisors would continue to be engaged; staff said the policy documents the current process and the city will continue to rely on municipal advisors, underwriters, and counsel as appropriate. Commissioners also discussed whether the city should pursue a longer‑term debt elimination strategy; staff noted the policy already contemplates callable bonds, defeasance, and refinancing as tools to reduce debt when appropriate and described Altamonte Springs as an example of a municipality that carries no debt.

No vote was recorded in the transcript excerpt provided; staff recommended adoption of the resolution to codify procedures and support the city’s credit profile.