Sarasota County Debt Management Policy - Resolution 2021-184

Sarasota County Debt Management Policy 5. Periodic Training At least once every two years, the Disclosure Counsel shall conduct training for the County officials to review their continuing disclosure policy roles and responsibilities. Such training shall include updates on current issues in the area of federal securities law as well as a question and answer session. Feedback on the process should be invited. During the training process, modifications to section VIII of this policy, if any, should be considered. 6. Chief Disclosure Officer The Director of Finance will have general oversight of the entire disclosure process which shall include: a. Maintaining appropriate records of compliance with the policies and procedures and decisions made with respect to disclosure issues that have been raised as a result of working through the policies and procedures, b. Periodically checking to determine that the policies and procedures are being followed, and c. Evaluating the effectiveness of the policies and procedures and making appropriate changes as needed. E. PROCEDURES 1. Watch for Reportable Events Determine if any of the following The Rule reportable events occurred: a. Principal and interest payment delinquencies. b. Non-payment related defaults, if material. c. Unscheduled draws on debt service reserves reflecting financial difficulties. d. Unscheduled draws on credit enhancements reflecting financial difficulties. e. Substitution of credit or liquidity providers, or their failure to perform. f. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 TEB) or other material notices or determinations with respect to the tax status of the securities, or other material events affecting the tax status of the securities. 31