Sec. 110.513. - Limitations on debt types.

The outstanding debt shall at all times fit within the following guidelines: (1) No more than 30 percent of the total debt outstanding shall be variable rate instruments. (2) No less than 70 percent of the total debt outstanding shall be fixed rate instruments (including medium term notes). (3) No more than 30 percent of the total debt outstanding shall be unhedged variable rate instruments. (Ord. 2005-1373-E, § 3; Ord. 2015-450-E , § 5; Ord. 2015-483-E , § 1)