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State Funding Board to Hear Debt Policy

By AP

Nashville, TN – Tennessee State Comptroller Justin P. Wilson will recommend today that the State Funding Board adopt a model debt management policy for governmental entities throughout Tennessee. If the board agrees, state and local governments and government entities that borrow money would be directed to draft their own debt management policies by January 1st, 2012, using the state's model policy as a guideline. Wilson says the policy provides a common sense roadmap for governments to manage their debt. The model policy recommends governments set limits on their total debt and the variable rate debt they will assume.