Page 73 - CityofEulessFY26AdoptedBudgetOrdinance2432

Limits between lowest and highest coupons
Coupon requirements relative to the yield curve
Method of underwriter compensation, discount or premium coupons
Use of True Interest Cost (TIC) vs. Net interest Cost ( NIC)
Use of bond insurance
Deep discount bonds
Variable rate bonds
Call provisions
L. Bond Issuance Advisory Fees and Costs — The City will be actively involved in the selection of all
financial advisors, underwriters, paying agents, and bond counsel. The City shall evaluate the merits
of rotating professional advisors and consultants as well as the kinds of services and fee structures
available from independent financial advisors, investment banking firms, and commercial banks, The
City will carefully itemize and scrutinize all costs associated with the issuance of bonds.

M. Refundina Debt— The City shall continually review outstanding obligations and may initiate refinancing
when the potential for present value savings calculate to approximately five percent ( 5%) or gross
savings exceed $ 100, 000.

N. Maximum Debt Levels — The water and wastewater bond maximum shall be within Bond Coverage
Ratios as stated in this policy. The City will strive to keep the portion of the City's ad valorem tax rate
for interest and sinking ( debt service) that is tax supported debt ( excluding self-supporting debt) below
forty percent ( 40%) of the total adopted City ad valorem tax rate. The State of Texas limits the total
City ad valorem tax rate to $ 2. 50 per $ 100 valuation.
O. Fixed Rate Debt — To maintain a predictable debt service schedule, the City may give preference to
debt that carries a fixed interest rate.

P. Variable Rate Debt - Variable rate debt is debt that bears interest at a floating rate established at
specific intervals. The City strives not to exceed thirty percent ( 30%) of the City' s total outstanding
debt in variable rate debt and may consider using variable rate debt in circumstances where assets
and liabilities match, for interim financing, where interest rates are above historic averages, if
diversification of debt is desired, or there is a variable revenue stream.
XI. STAFFING AND TRAINING

A. Adequate Staffing — Staffing levels will be adequate for the fiscal functions of the City to function
effectively. Overtime shall be used only to address temporary or seasonal demands that require
excessive hours. Workload shedding alternatives as well as technology will be explored before adding
staff.
B. Training — The City will support the continuing education efforts of all financial staff including the
investment in time and materials for maintaining a current perspective concerning financial issues.
Staff will be held accountable for communicating, teaching, and sharing with other staff members all
information and training materials acquired from seminars, conferences, and related education efforts.
C. Awards, Credentials — The City will support efforts and involvements which result in meeting standards
and receiving exemplary recitations on behalf of any of the City' s fiscal policies, practices, processes,
products, or personnel. Further, the Finance Director will try to obtain and/ or maintain designation of
Certified Government Finance Officer as awarded by the GFOA of Texas.

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Ordinance No. 2432, Page 73 of 474