Tennessee Comptroller Justin Wilson reminded local governments in a recent letter that they are required to draft and adopt their own debt-management policies by Dec. 31.

“If your governmental entity may need to borrow money after Dec. 31 … you should begin the process now to develop and adopt a debt-management policy designed to meet your needs,” Wilson wrote. “Whether you are connected with a county, city, industrial development board, utility district or other governmental entity… you need to have an adoption process that is open, transparent and allows for public input.”

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