1. Debt Management Policies PRESENTED BY GCR, LLP www.gcrlegal.com Copyright © 2013 GCR, LLP

2. The foundation of a well-managed debt program is a comprehensive debt management policy

3. Debt Management Policies provide mechanisms for internal controls with respect to the issuance of debt.

4. The Government Finance Officers Association (GFOA) recommends that all state and local governments have a comprehensive debt policy that includes (among other things): The purpose for which debt may be issued The types of debt permitted; and Authorized methods of sale.

5. The adoption by the Board of the proposed Investor Relations Policy and the proposed Refunding Policy is a good start toward establishing a comprehensive debt management policy to assist the District with meeting its goals and will assist with sound financial management

6. Other Board Policies that the District may consider include, but are not limited to: (1)Structure of Debt Issues A. Maturity of Debt B.Debt Service Structure C.Capitalized Interest D. Call Provisions (2)Sale of Securities A.Negotiated B.Competitive C.Private Placement (3)Credit Enhancements (4)Post Issuance Compliance

7. Questions?