Title
A RESOLUTION TO AUTHORIZE THE FOLLOWING POLICIES OF THE CITY OF FOLEY, ALABAMA:
Policy for Incurrence and Management of Debt
Policy for Compliance of Tax-Exempt Bonds with the Internal Revenue Code
Policy for Continuing Disclosure under SEC Rule 15c2-12
Summary
Description of Topic: (who, what, where, when, why and how much)
Finance Director: the presented policies related to debt management were drafted by the City's bond attorney. The policies establish standards for the incurrence and management of City debt that comply with laws, generally accepted accounting principles, and IRS and SEC requirements.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**
In current year Capital Projects Plan:
_____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, inclu...
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