City Council

Item 330:\nBiennial Update of the City Debt Policy.\nThis item will be considered in the afternoon session which is scheduled to begin at\n2:00 p.m.\nTotal Estimated Cost of Proposed Action and Funding Source:\nThere is no cost associated with this action.\nCouncil District(s) Affected: Citywide.\nProposed Actions:\n(R-2026-7)\nResolution adopting certain revisions to update the City's Debt Policy.\nCommittee Actions Taken:\nThis item was heard at the Budget and Government Efficiency Committee meeting on\nJuly 16, 2025.\nACTION: Motion by Vice Chair Moreno, second by Committee Member Elo-Rivera, to\nrecommend Council approval of staff’s proposed actions, with the following additional\nlanguage to be added after the first sentence in the Overview Section: “The Policy will be\nreviewed biennially by the Department of Finance (DOF) and any material changes to the\nPolicy will be brought forward for City Council consideration and approval if changes are\nnecessary. In the event there are no material changes to the policy, the Department of\nFinance shall provide the Budget and Government Efficiency Committee with an\ninformational overview of the current policy and a summary of the city’s outstanding\ndebt. Further, in the event there are any deviations or exceptions from the Policy when a\ncertain bond issue is structured, those exceptions will be discussed in the staff reports\nwhen the bond issue is docketed for City Council’s consideration.”\nVOTE: 4-0; Foster III-yea, Lee-yea, Moreno-yea, Elo-Rivera-yea.\nDebt Management: Richard Eyre, (619) 236-6899\nCity Attorney Contact: Bret A. Bartolotta