By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
City officials establish debt management policy
Placeholder Image
McMinnville officials have established a debt management policy. The city’s policy meets the state’s requirement that one be in place by the end of the year.“Tennessee State Funding Board has required all municipalities to pass a debt management policy by Dec. 31, 2011,” said city administrator David Rutherford.The goal of the state’s requirement of a debt management policy is to assist decision makers in planning, issuing, and managing debt obligations by providing clear directions as to the steps, substances and outcomes desired. In addition, a policy will increase stability over the long-term by the use of consistent guidelines in issuing debt.