FY 2017 Budget Highlights

XIV. B. In order to enhance the County's position in the debt market, the Director of Finance will be responsible for determining whether ratings will be requested. C. The Director of Finance is responsible for maintaining relationships with these agencies and keeping them informed relative to material economic events that occur in the County between debt issuances (between official rating events). The BOCC, Bond Counsel and the County's Financial Advisor may be consulted when determining whether an economic event is of significant proportion to qualify for such a notification. D. The County shall maintain adequate systems of internal control, comply with applicable laws and regulations, and conduct its financial affairs in such a way as to sustain a strong financial position in order to maintain the highest credit rating level possible. Administration/Responsibilities A. The BOCC is responsible for implementing and revising these policies as appropriate. B. The debt policies are to be reviewed formally by the BOCC at least every five (5) years. C. The Director of Finance is responsible for the administration of these policies. D. The Director of Finance, based upon advice and counsel from the Financial Advisor and Bond Counsel, may deviate from the guidelines established in this Debt Policy on a case by case basis, as may be warranted in particular circumstances, with the advance approval of the BOCC. 8

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