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' [ 3 <br /> -' tYv Y ., `' E:VERE^TT CITYCOUNCIL AGENDA ITEM:COVER SHEET , i <br /> PROJECT TITLE: <br /> Adopt Resolution setting Consent COUNCIL BILL# <br /> policy guidelines for the City X Action Originating Department Finance <br /> of Everett's Debt Management First Reading Contact Person Debra Bryant <br /> Program Second Reading phone Number X8608 <br /> Third Reading FOR AGENDA OF 1/17/07 <br /> Public Hearing <br /> Initialed by: <br /> Department Head Q4A.A.4.-- <br /> CAA Ai,- <br /> Council President s; <br /> Location Preceding Action Attachments Department(s) Approval <br /> Budget Committee Resolution <br /> 1/10/07 <br /> Amount Budgeted <br /> Expenditure Required Account Number(s): <br /> Budget Remaining <br /> Additional Required <br /> DETAILED SUMMARY STATEMENT: The proposed Resolution formalizes and expands upon the <br /> existing policy statement that is published in the Annual Operating Budget, which provides the framework <br /> for planning, reviewing, and administering the City's Debt Management Program. A formal debt <br /> management policy demonstrates the City of Everett's commitment to long-term financial planning, and <br /> signals to rating agencies and capital markets that the City of Everett's debt program is well managed and <br /> will meet its obligations in a timely manner. <br /> RECOMMENDATION: Adopt Resolution setting policy guidelines for the City of Everett's Debt <br /> Management Program. <br /> 17 <br />