Presentation Purpose/Desired Outcomes
An understanding of the following:
- The various types of debt issued by municipalities in Ohio and the limitations that exist
- The City’s current debt profile
- City’s current Debt Policy as approved by City Council through Ordinance No. 31-16 (September 12, 2016)
- The factors analyzed by Moody’s Investor Services as part of the rating process and the estimated impact of future financings on the City’s rating
- Mechanisms built into our policies/practices that help mitigate against declines in revenue
- Dedicated revenue stream to retire debt service
- Conservative revenue , realistic expenditure estimates
- Limit amount available to spend on debt service to 90% of estimated revenue
- Significant cash balances
- Additional coverage for debt supported by TIF revenues (subject to changes in property valuations)
- 5-year CIP that is updated annually
- Affirmation of the City’s existing Debt Policy
Download: Debt Presentation – April, 23 2018
