HomeMy WebLinkAboutRESOLUTIONS-1980-084-PR-8084-PR-80
A RESOLUTION
• ESTABLISHING A POLICY ON DEBT LIMITS
WHEREAS, there is a Budget Policy Committee of the Evanston City
Council whose assignment is to recommend short and long-term policies
regarding City budgeting; and
WHEREAS, the City Council of the City of Evanston wishes to
provide a sound fiscal policy concerning expenditure and taxing levels
for the City of Evanston; and
WHEREAS, the City Council has adopted a long-term budget policy
for expenditure and tax levies which policy was adopted on July 21, 1980;
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and
WHEREAS, the City Council is desirous of adopting a long -.term
policy with regard to general obligation debt supported by the property
• taxes:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Evanston that it shall be the.policy of the City that the principal
amount of general obligation debt which is to be paid through real
property taxes shall not at any one time exceed fifty million dollars;
and
BE IT FURTHER RESOLVED that the debt service on said general
obligation bond debt shall be included for the purposes of determining
overall budget guidelines for fiscal year 1984, all in accordance with
the general budget policy guidelines.
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Adopted: �� %/Zcut u� /C �fF�
Attest:
City Clerk