Page 26 - 2020-21 Budget Summary

historical interest rate trends, variable rate capacity, credit enhancement capacity, opportunities to refund
related debt obligations, and other similar considerations. This analysis will be included in the CAO report
recommending a transaction to the Mayor and Council. In addition, the CAO will report on revenue bonds
issued by the proprietary departments.

The City has earned some of the highest credit ratings for large cities in the nation, thus reducing the
City’s interest costs paid on the amounts borrowed and resulting in lower tax rates and a reduced burden
on the General Fund. This policy is intended to help in maintaining the City's high credit ratings.
Additionally, this policy is intended to provide selection criteria for financial consultants, underwriters, and
attorneys in order to ensure a fair and open selection process, provide opportunities for all firms to
participate in City contracts, and result in the selection of the best qualified professionals.

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