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Local governments face debt management policies

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NASHVILLE, Tenn. (AP) - State officials are reminding local governments that they must develop or revise their debt management policies to conform with standards issued by the State Funding Board.

Last year, the board agreed to require governments that want to borrow money to adopt policies no later than this Dec. 31.

The requirement applies to city and county governments and other public entities that issue debt, including industrial development boards, utility districts and quasi-governmental agencies.

The standards are intended to give local governments discretion in crafting their debt management policies under certain principles.

Details are at http://www.comptroller1.state.tn.us/s1/DebtManagement.asp

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