Debt Management Policy
The City’s debt management policies should be guided by the maintenance of a balanced relationship between issuing debt and “pay-as-you-go” financing.
The City Code and City Charter provide some guidance regarding the issuance of debt. Article VIII, FINANCE, Section 822, of the City of Takoma Park Charter provides that the City should have the power to borrow in anticipation of the collection of the property tax levied for that fiscal year during the first six months of any fiscal year. The City can issue tax anticipation notes or other evidences of indebtedness as evidence of such borrowing.
