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Bremerton Housing Authority recognized for debt policy
The Bremerton Housing Authority (BHA) was awarded a certification of excellence by the Washington Municipal Treasurer’s Association (WMTA) for its debt policy that was adopted in March. The certification recognizes BHA established a policy that is consistent with sound debt issuance and management practices based on criteria established by the WMTA.
The WMTA debt policy certification program utilizes a peer review process to evaluate debt policies to determine if they adequately describe legal and policy limits; coordinate long-range capital planning with funding options; describe what debt programs should and should not fund; describe the type of debt permitted and the rules by which it will be sold; establishes criteria for when to use and how to select outside professionals; ensures administrative compliance with ongoing obligations; and provides for periodic review and updates to the policy.
As of March, BHA had outstanding long-term debt obligations totaling more than $28 million.