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R2553R E S O L U T I O N NO. 2553 WHEREAS, pursuant to the Bond Issue Election of February 3, 2004, the District is desirous of establishing and implementing a cohesive policy for the use of debt to finance capital projects, and WHEREAS, the District seeks to understand the impact of the Capital Improvement and Replacement Program, including associated debt financing, on the Wastewater User Charge structure, and WHEREAS, the District has retained Public Financial Management (PFM) to assist the District in establishing a framework for the use of debt, and WHEREAS, Public Financial Management (PFM) has submitted a proposed debt policy for the District's approval, and WHEREAS, the aforesaid proposed debt policy has been reviewed by the District's staff and Finance Committee, and WHEREAS, the Finance Committee has recommended the acceptance of said debt policy, NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE METROPOLITAN ST. LOUIS SEWER DISTRICT, THAT, the debt policy as developed by Public Finance Management (PFM) be, and are hereby adopted on behalf of the District. The foregoing Resolution was adopted April 1, 2004.