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original document ·
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unofficial consolidation, the official version is held by the municipal clerk.
TITLE:
DEBT MANAGEMENT POLICY
SECTION:
FINANCIAL MANAGEMENT
POLICY NO:
03450·03
APPROVAL DATE: November 24, 2025
PURPOSE
The purpose of the Debt Management Policy is to outline the management methods for
long-term borrowings and debt repayment.
POLICY STATEMENT
The Town will confine long-term borrowings to capital investments or projects that cannot
be financed from current revenues. The Town will not use long-term debt to finance
current operating expenditures. Considerations will be made before borrowing funds as to
the level of existing debt and the impact on current and future operating budgets.
When the Town finances capital projects through the issuance of debentures, it will pay
back the debentures within a period not to exceed the expected useful life of the project.
Total annual payments of principal and interest for long.term borrowings will not exceed
15% percent of the Town's total annual own source generated operatlng revenue. Where
possible, the Town may use special assessment or revenues instead of long-term
borrowings.
The Town will maintain a debt repayment schedule outlining debt principal and interest
outstanding for each year.
Ensure Debt Management Policy is followed and that debt does not exceed 15%.
For Administrative Use Only:
VERSION LOG
Minutes reference date: November 24, 2025
January 22, 2007