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Article: TRENDS IN THE REGION: Tennessee Talks Tough With Local Issuers.(Southeast)

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The Bond Buyer
Article date:
November 5, 2009
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Byline: Shelly Sigo

BRADENTON, Fla. -Tennessee is proposing debt management policies that may be some of the strictest ever adopted by a state for use by local governments, according to the state's financial adviser, who is a former Government Finance Officers Association board member.

The 21-page "Model Debt Management Policy" includes recommendations for cities and counties such as limiting debt maturities to 20 and 25 years, discouraging the use of back-loaded debt, limiting the use of variable-rate debt to 25% of their portfolios, using independent financial advisers, implementing strategies to avoid conflicts of interest, and weighing the risks of ...

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