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TOWN OF TRUCKEE <br /> California <br /> RESOLUTION 2017-34 <br /> A RESOLUTION ADOPTING A DEBT POLICY CONSISTENT WITH <br /> CALIFORNIA GOVERNMENT CODE SECTION 8855 <br /> WHEREAS, the Town of Truckee (the "Town") and the Truckee Redevelopment Agency <br /> (the "Agency") have heretofore entered into a Joint Exercise of Powers Agreement, dated as of <br /> March 23, 2000 (the "Joint Powers Agreement"), which Joint Powers Agreement creates and <br /> establishes the Truckee Public Financing Authority (the"Authority"); and <br /> WHEREAS, pursuant to Article 4 of Chapter 5 of Division 7 of Title 1 of the Government <br /> Code of the State of California (the "Marks-Roos Local Bond Pooling Act of 1985") and the Joint <br /> Powers Agreement, the Authority is authorized to issue bonds for financing public capital <br /> improvements whenever there are significant public benefits; and <br /> WHEREAS, California Government Code Section 8855 provides that the issuer of any <br /> proposed debt issue of state or local government shall, no later than 30 days prior to the sale of <br /> any debt issue, submit a report of the proposed issuance to the commission by any method <br /> approved by the California Debt and Investment Advisory Commission (the "Commission"); and <br /> WHEREAS, California Government Code Section 8855 was recently amended to provide, <br /> among other things, that such report to the Commission include a certification by the issuer that it <br /> has adopted local debt policies concerning the use of debt and that the contemplated debt <br /> issuance is consistent with those local debt policies; and <br /> WHEREAS, a proposed local debt policy (the "Debt Policy") has been presented to this <br /> meeting; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF <br /> TRUCKEE, as follows: <br /> SECTION 1. The Town hereby specifically finds and declares that the actions <br /> authorized hereby constitute and are with respect to public affairs of the Town and that the <br /> statements, findings and determinations of the Town set forth above are true and correct. <br /> SECTION 2. The Town Council hereby adopts the Debt Policy. <br /> SECTION 3. This resolution shall take effect immediately upon its passage. <br /> 1 <br />