City_of_Pasdadena_Debt_Policy_July_2020.pdf

The Debt Policy document for the City of Pasadena, dated July 2020, outlines the city's comprehensive financial guidelines for managing municipal debt. The document is directly related to the city's request for an Independent Registered Municipal Advisor (IRMA) professional firm to provide financial advisory services. The IRMA will be responsible for offering expert guidance on debt issuance, including strategic advice on structuring, timing of issuance, call provision options, rating matters, and existing and proposed financial arrangements.

The policy emphasizes the importance of maintaining fiscal responsibility and transparency in debt management. The IRMA must be registered with the Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board, in compliance with Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. While specific pricing terms are not detailed in this document, the policy suggests a rigorous approach to financial oversight, with the selected advisor expected to provide independent, expert-level economic market analysis and recommendations to support the City of Pasadena's financial decision-making processes.