BRADENTON, Fla. — Tennessee has instituted some of the strictest guidelines ever imposed for issuing municipal debt by establishing a model requiring that all ­issuers adopt debt-management policies by Jan. 1, 2012.

The Tennessee Funding Board, which by law creates financial policies for state and local issuers, on Wednesday approved the model that includes best practices and minimum standards for issuers to use as a guideline.

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