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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 without extending the maturity of the debt being refunded, unless extenuating circumstances would justify a smaller percentage savings (e. The allegro 8406 library District may also refund existing 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 fair disclosure in connection with the allegra side effects liver initial sale and distribution of its publicly marketed debt instruments and to provide appropriate ongoing secondary market information, in compliance with the requirements of applicable federal and state securities laws, allegra side effects liver rules, and regulations, including Securities and Exchange Commission Rule allegra side effects liver 15c2-12.

Arbitrage Reporting Finance and Accounting shall establish a allegra side effects liver system of record keeping and reporting (or procure the services of a company specializing in arbitrage) to meet the arbitrage rebate compliance requirements of the federal tax code. This includes tracking investment earnings on bond proceeds, calculating rebate payments in compliance with tax law, and remitting any rebatable earnings to allegra side effects liver the federal government in a timely allegra side effects liver manner in order to preserve the tax-exempt allegra side effects liver status of the Library District’s outstanding and future debt issues. Investment of Bond Proceeds The allegra side effects liver investment of bond proceeds shall be allegra side effects liver governed by the Library District’s Investment Policy and any applicable allegra side effects liver bond covenants. In the event of conflicting policies, the more restrictive policy shall be enforced. Tax (Revenue) Anticipation Notes - Where allegra side effects liver 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 issue allegra side effects liver Tax or Revenue Anticipation Notes as a allegra fulton filmography 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 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.