Mission

The mission of the Office of Public Finance (OPF) is to provide and manage low-cost debt financing of large-scale, long-term capital projects and improvements that produce social and economic benefit to the City and its citizens while balancing market and credit risk with appropriate benefits, mitigations and controls.

Objectives

1. Maintain cost-effective access to the capital markets with prudent policies.
2. Maintain moderate debt and debt service levels with effective planning and coordination with City departments.
3. Meet significant capital demands through debt financing and alternate financing mechanisms such as public/private partnerships.
4. Achieve the highest practical credit rating.

Summary of Types of Debt

The Office of Public Finance utilizes five principal types of municipal debt obligations to finance long-term capital projects and the acquisition of select equipment:

• certificates of participation
• general obligation bonds
• lease revenue bonds
• special tax bonds
• tax increment revenue bonds