FY 2017 Budget Highlights
XI.
XII.
E. All trust accounts will be closed timely when no longer needed.
F. The County has adopted its Statement of Procedures and Responsibilities with Respect to
Post-Issuance Tax Compliance for Tax-Exempt Financing to assure compliance with the
requirements of federal income as are applicable to its tax-exempt debt following issuance.
Continuing Disclosure
A. The County will comply with all disclosure requirements established by the Securities and
Exchange Commission.
B. The Continuing Disclosure Agreements can be found as an appendix to every Official
Statement.
Service Providers
A. The BOCC is responsible for establishing a selection and contracting process for
professional services relative to the issuance of debt. The criteria used in selecting service
providers include quality of services, cost of services, experience in their respective
expertise, and ability and willingness to comply with the County's terms and conditions.
The main service providers include:
I.
Financial Advisor
a. Relative to non-debt issuance, the Financial Advisor may be asked for advice
related to investment activity and policy, rate setting processes and other
financial issues.
b. The Financial Advisor has a role in every form of County debt issuance
except conduit debt, interfund loans and State Revolving Loans.
c. The Director of Finance shall advise the BOCC relative to the solicitation
for and selection of and duration of employment for the Financial Advisor.
d. The Financial Advisor firm will not bid on nor underwrite any County debt
issues.
e. The County shall not limit itself to having a single Financial Advisor or firm
under contract at any one time.
2. Bond Counsel
a. As part of its responsibility to manage outside attorney contracts, the
County Attorney will work closely with the Director of Finance and advise
the BOCC relative to the duties and responsibilities and the solicitation and
selection of and duration of employment for Bond Counsel.
C.
b. Bond Counsel will have a role in all debt issues except interfund loans.
In addition to debt related issues, Bond Counsel may be employed to
handle issues related to tax matters and Internal Revenue Service
procedural issues.
d. The County shall not limit itself to having a single Bond Counsel firm under
contract at any one time.
XIII.
Credit Ratings
A. The County's ability to borrow at the lowest cost of funds depends upon its credit
standing as assessed by major credit rating agencies.
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