title
An ordinance adopting the revised Debt Management Policy for The Metropolitan Government of Nashville and Davidson County.
body
WHEREAS, Tenn. Code Ann. ? 9-21-134(b) authorizes the Tennessee State Funding Board (the "Board") to develop model financial transaction policies to be used by public entities, and such Board previously adopted a statement that all public entities incurring or issuing debt are required to adopt a debt management policy with certain required provisions; and,
WHEREAS, on December 6, 2011, the Metropolitan Council adopted Resolution No. RS2011-94 that approved the Debt Management Policy of The Metropolitan Government of Nashville and Davidson County; and,
WHEREAS, on July 6, 2017, the Metropolitan Council adopted Substitute Ordinance No. BL2017-726, that amended the Metropolitan Code of Laws to add Section 5.04.105 to also require the Metropolitan Government to maintain at all times a debt management policy with certain provisions in addition to those required by the Board; and,
WHEREAS, on December 5, 2017, the Metropolitan Council enacted BL2017-949, that adopted a revised Debt Management Policy based on the requirements of the Board and Metropolitan Code of Law 5.04.105; and,
WHEREAS, the Department of Finance has now reviewed and revised the Debt Management Policy; and,
WHEREAS, it is fitting and proper that the Metropolitan Government adopt the revised Debt Management Policy, a copy of which is attached as Exhibit A.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Metropolitan Council hereby approves and adopts the revised Debt Management Policy for The Metropolitan Government of Nashville and Davidson County, attached as Exhibit A and incorporated herein by reference.
Section 2. This Ordinance shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agend...
Click here for full text