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ATTACHMENT 1 1. INTRODUCTION The City of Pleasanton has established this Debt Management Policy ("Policy") to provide clear and comprehensive guidelines for the issuance and financial management of debt issued by the City of Pleasanton. This Ppolicy supports the City of Pleasanton's mission of providing responsive and high quality public services forits citizens and ensures that the City of Pleasanton is financially self-sustaining and fiscally strong. Finally, this Debt Policy requires that the City Council specifically authorize each debt financing by resolution. 2. SCOPEPURPOSE This Policy has been developed in accordance with practices recommended by the Government Finance Officers Association for the purpose of providing a framework for debt management and capital planning by the City. The guidelines established by this policy will govern the issuance and management of all debt funded for long term capital financing needs and short-term cash-flow needsd not for general operating functions. Changes in the capital markets and other unforeseen circumstances may require action which may deviate from this Debt-Management-Policy. In cases which require exceptions to this Debt-Management-Policy, the City Council approval will be necessary for implementation. 3. GOALS The purpose of this Debt Policy is to establish prudent debt issuance guidelines to ensure that the City meets the following objectivesgoals: (1) Identifying the purposes for which the debt proceeds may be used or are prohibited. (2) Identifying the types of debt that may be issued or prohibited. (3) Describing the relationship of the debt to, and integration with, the City's capital plan objectives or budget. (4) Establishing policy goals related to the District's planning goals and objectives. (5) Mandating that the City comply with all debt covenants. (6) Establishing to voters, taxpayers and community that the City has plans and procedures to implement is financing programs prudently and transparently. (7) Demonstrating to rating agencies and investors that the City is well managed. (7) Meeting the ongoing obligations associated with the issuance of bonds under State, tax and securities laws. objectives through the most safe and cost effective means of debt issuance 3.2. To ensure that the term of the debt shall not exceed the expected useful life of the capital improvement(Section 6) 3.3. To ensure that any debt instrument utilized be fully understood by Staff