§ 2-575. Moral obligation pledges.

Recognizing that a city's potential can be measured by the service delivery of its infrastructure. it is the responsibility of the city's officials to:

(1) Recognize the city's limited inventory of pledgable revenues and the need to manage the use/commitment of these revenues as the consumption of a scarce resource;

(2) Maintain the current systems, structures and facilities and their service delivery potential and to add building blocks (additions, modifications and expansion) as needed;

(3) Ensure that decision making with regard to city debt will focus on the need to measure interperiod equity between fiscal years and generations of taxpayers, users and other beneficiaries. Take actions to ensure the fair distribution of costs between periods while equally striving to maintain future flexibility to address unanticipated capital requirements;

(4) Employ the use of debt to complement, and not in lieu of significant recurring commitments of annual appropriations for capital purposes;

(5) Act as fiduciaries, for their time as responsible officials, to ensure that each transfers to their successors a city in at least as good a shape (financial, physical, service delivery potential, etc.) as they received from their predecessors; and

(6) Maintain the city's sound financial position, reasonable reserves and positive debt posture and thereby enhance the city's flexibility and related ability to meet the challenges of its future generations.

(Ord. No. 2013-03, § 1, 2-5-13)