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City of Colton Debt Policy and Procedures <br />Adopted by City Council February 7, 2017 <br /> <br />11 <br /> <br /> <br />• Any continuing disclosure undertakings under SEC Rule 15c2-12, <br /> <br />• Any federal tax compliance requirements, including without limitation arbitrage and rebate <br />compliance, related to any prior bond issues, and <br /> <br />• The City’s investment policies as they relate to the investment of bond proceeds. <br /> <br />The City shall be vigilant in using bond proceeds in accordance with the stated purpose at the time <br />that such debt was issued. Whenever reasonably possible, proceeds of debt will be held by a third- <br />party trustee and the City will submit written requisitions for such proceeds. The City will submit <br />a requisition only after obtaining the signature of the City Manager or the Director of <br />Finance/Treasurer.