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,_ t <br />INDIAN RIVER COUNTY <br />Debt Policies <br />• The County will issue bonds Anly fAr r-apital and geReral . <br />Long-term debt will not be used to fund operating activities. <br />• The County may )A44 issue Peter, fer bond anticipation notes <br />• When appropriate, tThe County will publish and distribute an official statement for a each <br />publicly issued bond and rate issue. <br />• General obligation debt will not be used for enterprise activities. All such debt beRdS <br />will be 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, ;v l;ch—G EI Rnt be—fiA;;r'^TEed {�r^vri-rEUFFent—revenues er thin U ;reSen-eid <br />P_A­ "A.m. ef the ReR voted debt capa 4- <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 appropriatee-n, the County will use special assessment, revenue, or other <br />self-supporting debt kA in lieu and aveid the use of general obligation debt. <br />. Indian River Countv will <br />_l <br />40 <br />