The Debt Management Service Center has three major functions:
- Debt Management. The Debt Management Service Center manages the City's overall debt portfolio, maintains communications with bond rating agencies to ensure complete and clear understanding of the credit worthiness of the City, monitors and compares certain debt ratios of the City to those of comparable issuers, monitors outstanding debt for refunding opportunities, develops and manages relationships with other municipal bond market participants, and monitors the municipal bond market to ensure the City is kept abreast of all events that may impact the City debt or its access to capital markets.
- Debt Issuance. The Debt Management Service Center manages the issuance of the City's debt and debt related instruments which may include, but is not limited to, general obligation bonds, revenue bonds, bond anticipation notes, capital outlay notes, tax anticipation notes, commercial paper, leases, lease purchase agreements, lease/leaseback agreements, loan agreements, investment agreements relating to bond proceeds, and derivative products. This process includes seeking and receiving appropriate authorization, determining appropriate structure and method of sale, ensuring the preparation of all disclosure documents, selecting professionals to assist with the issuance of the debt, monitoring the municipal bond market, and documenting and reporting debt and debt related expenditures.
- Debt Administration. The Debt Management Service Center ensures full and timely payment of principal and interest on the City's outstanding debt, prepares and monitors scheduled debt payments to custodian bank and third party payees, administers all transactions related to compliance with federal arbitrage rules and regulations as it pertains to the investment of bond proceeds and spend down requirements, administers initial and ongoing disclosure requirements as it relates to the City debt, prepares and distributes financial reports and statistical data for use by internal and external customers, and prepares invoices relating to loan agreements with other agencies, authorities, or departments.
This website provides access to the electronic version of selected information relating to the City of Memphis. Your access to and use of information contained on this site is subject to the following terms and conditions and all applicable laws. By accessing and browsing this site, you accept these terms and conditions without limitation or qualification.
All information contained in this website is believed to be accurate and reliable. Due to the possibility of human or mechanical error as well as other factors, this information is provided "as is" without warranty of any kind and the City makes no representation, express or implied, as to the accuracy, reliability or completeness of this information, or the timeliness of any information on this website.
The information contained at this website has been included for general informational purposes only and no person should make any investment decision in reliance upon the information contained herein. This website and the information contained herein do not constitute an offer to sell or the solicitation of an offer to buy any securities. The City currently anticipates that the disclosure documents prepared from time to time in connection with the offering and sale of securities by it may contain information updating or supplementing some of the information presented at this website. In addition, certain financial information and operating data, as well as information regarding certain material developments respecting the City and securities issued by it from time to time, may be filed with the Municipal Securities Rulemaking Board or the Nationally Recognized Municipal Securities Information Repositories from time to time recognized by the Securities and Exchange Commission. The City in its discretion will determine whether to include such updated information on its website or to otherwise supplement, update or modify the information at this website.
The information at this website may contain statements which, to the extent they are not recitations of historical fact, constitute "forward-looking statements." In this respect, the words "estimate", "project", "anticipate", "expect", "intend", "believe" and similar expressions are intended to identify forward-looking statements. A number of important factors affecting the City and its affairs could cause actual results to differ materially from those stated in the forward-looking statements.
The information in each document or file at this website is dated as of the date or dates indicated, and the City disclaims any duty or obligation either to update the information contained at this website or to maintain the availability of such information. In addition, the City may remove any of this information from this website at any time.
Under no circumstances shall the City have any liability to any person or entity for (1) any loss or damage in whole or part caused by, resulting from or relating to any error (neglect or otherwise) or other circumstances involved in procuring, collecting, compiling, interpreting, analyzing, editing, transcribing, communicating or delivering any information at this website, or (2) any direct, indirect, special, consequential or incidental damages whatsoever, even if the City is advised in advance of the possibility of such damages, resulting from the use of, or inability to use, any such information.
By accessing or viewing any information on this website, I am signifying I have read the foregoing disclaimer and expressly agree to each of its terms.