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71 <br />�O <br />INDIAN RNER COUNTY <br />Debt Policies <br />P. Long-term debt will not be used to fund operating activities. <br />► The County may issue bond anticipation notes. <br />► When appropriate, the County will publish and distribute an official statement for a <br />publicly issued bond and rate issue. <br />► General obligation debt will not be used for enterprise activities. All such debt will be <br />supported by revenue from operations. <br />► The County will not issue long-term debt with maturity longer than the useful life of the <br />project or item funded. <br />► The County will use voted general obligation debt to fund general purpose public <br />improvements. <br />► If Indian River County utilizes long-term debt financing, staff will ensure that the debt is <br />soundly financed by following several guidelines. First, the cost/benefit ratio of the <br />improvement must bepositive. Revenue sources that will be used to pay the debt will be <br />conservatively projected. Also, no improvement shall be financed over a time period greater <br />than the useful life of said improvement. <br />► Every effort will be made to limit the amount of general obligation debt. All general <br />obligation debt will be used only for public purposes. <br />► When appropriate, the County will use special assessment, revenue, or other self- <br />supporting debt in lieu of general obligation debt. <br />► Indian River County will strive to maintain sound credit ratings when applicable. <br />M <br />