It is the policy of the BOCC for the County to plan issuance of revenue-supported bonds according to the following guidelines:
- Utilize revenue-supported bonds, whether solely revenue backed or issued as general obligations with non-property tax revenue pledges, to finance public improvements that can be shown to be self-liquidating or fully supported by dedicated revenue sources, and needed for the infrastructure and economic development of the County.
- Revenue-supported bonds should be used to limit potential dependence on property taxes for those projects with available revenue sources, whether self-generated or dedicated from other sources.
- Adequate financial and, if necessary, engineering feasibility studies should be performed for each project to provide assurances as to the self-liquidating nature of the project or adequacy of dedicated revenue sources.
- General obligation revenue bonds should be issued for projects in order to obtain the lowest possible interest costs, unless the revenue bonds benefit only specific users, but not the community as a whole or where specific authority to issue general obligation backed bonds does not exist.