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The Library District will ensure that an adequate system of internal control exists so as to provide reasonable assurance as to compliance with applicable laws, rules, regulations, and covenants associated with outstanding debt. The Library District will market its debt through the use of competitive bid allegria bridal belmont massachusetts whenever deemed feasible, cost effective, and advantageous to do so. However, it is recognized that, in some situations, certain complexities and intricacies of a particular debt issue are such that it may be advantageous to market the debt via negotiated sale. The Library District shall use the services of outside finance professionals selected using competitive bid. Credit enhancements (insurance, letters of credit, etc. ) will be used only in those instances where the anticipated present value savings in terms of reduced interest expense exceeds the cost of the credit enhancement. In order to maintain a stable debt service burden, the Library District will attempt to issue debt that allegra banquets schiller park carries a fixed interest rate. However, it is recognized that certain circumstances may warrant the issuances of variable rate debt. In those instances, the Library District should attempt to stabilize debt service payments through the use of an appropriate stabilization arrangement. The Library District will continually monitor its outstanding debt in relation to existing conditions in the debt market and will refund any outstanding debt when sufficient cost savings can be realized. Outstanding debt will be refunded as long as the net present value savings between the refunded bonds and the refunding bonds is equal to or greater than three percent allegra banquets schiller park without extending the maturity of the debt allegra banquets schiller park being refunded, unless extenuating circumstances would justify a smaller percentage savings (e. The allegra banquets schiller park Library District may also refund existing allegra banquets schiller park debt for the purpose of revising existing bond covenants to meet particular organizational and/or strategic needs of the Library District when it is advantageous to do so. Disclosure Requirements It is the policy of the Library District to endeavor to provide full and allegra banquets schiller park fair disclosure in connection with the initial allegra banquets schiller park sale and distribution of its publicly marketed debt instruments and to provide appropriate ongoing allegra banquets schiller park secondary market information, in compliance with the allegra banquets schiller park requirements of applicable federal and state securities allegra banquets schiller park laws, rules, and regulations, including Securities allegra banquets schiller park and Exchange Commission Rule 15c2-12. Arbitrage Reporting Finance and Accounting shall allegra banquets schiller park establish a system of record keeping and reporting (or allegra banquets schiller park procure the services of a company specializing in arbitrage) to meet the arbitrage rebate compliance requirements of allegra banquets schiller park the federal tax code. This allegra cole amber valletta includes allegra banquets schiller park tracking investment earnings on bond proceeds, calculating allegra banquets schiller park rebate payments in compliance with tax law, and remitting any rebatable earnings to the federal government in a timely manner in order to preserve the tax-exempt status of the Library District’s outstanding and future debt issues. Investment of Bond Proceeds The investment of bond proceeds shall be governed by the Library District’s Investment Policy and any applicable bond covenants. In the event of conflicting policies, the more restrictive policy shall be enforced. Tax (Revenue) Anticipation Notes - Where their use is judged by the Library/Clerk staff, bond counsel allegra banquets schiller park and financial advisor to be prudent and advantageous to the Library District, the District may choose to issue Tax or Revenue Anticipation Notes as a source of interim operating financing. Other - Where their use is judged by the Library/Clerk staff, bond counsel and financial advisor to be prudent and advantageous to the Library District, the District may choose to use other short-term financing tools such as a line of credit or pooled commercial paper programs. The Florida Constitution requires that long-term debt pledged by the full faith and credit of the Library District can only be approved by voter referendum. For debt issues to be placed allegra fexofenadine otc on the ballot, the Library       Governing Board must approve both the capital and financing proposals. There is no statutory limit on the amount of debt and corresponding tax levy the voters can approve. It is the Library District’s own policy to manage debt within the guidelines identified in these policies. The Library Director has implemented debt management policies throughout all funds. The Library Director and Finance Director will be responsible for coordinating all debt issuance for the Library District including the use of short-term and long-term financing. The Library Director and Finance Director will be responsible for determining reasonable debt levels for the Library District as part of the annual budget process and capital improvement plan.