FIN 2025-06-23 Item 1A - Resolutions - City Investment and Debt Policies

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• Provide pertinent information to credit rating agencies when issuing debt and as routine credit reviews occur. IV. Professional Services The City's Finance Director will be responsible for the solicitation and selection of professional services as necessary to administer the City's debt program. Professional service providers necessary to issue debt may include, but are not limited to bond counsel, disclosure counsel (which may be bond counsel), municipal advisor, underwriters, banks, rating agencies, and fiscal agent. Selection of the service providers will consider availability, professional knowledge, accountability, cost, as well as successful partnerships in previous debt issuances. The City will issue debt considering cost and associated risk. Professional Service Providers Bond Counsel — Debt issued by the City will generally include a written opinion by bond counsel affirming that the City is legally authorized to issue the proposed debt. The opinion shall provide that the obligation is legal, valid and binding, and enforceable against the City. In the case of tax exempt financing, the legal opinion will address the treatment of interest for purposes of Tax Law. Municipal Advisor — A Municipal Advisor may be used to assist in the issuance of the City's debt. The Municipal Advisor will provide the City with objective advice and analysis on debt issuance. This includes, but is not limited to, coordinating of finance team, monitoring of market opportunities, structuring and pricing of debt, competitive sale execution, and reviewing the preliminary and final official statements. Disclosure Counsel - The Disclosure Counsel (which may be bond counsel) plays a critical role in ensuring that the City's preliminary and final official statements comply with Securities Laws and disclosure requirements. Disclosure Counsel provides legal guidance on the accuracy, completeness, and transparency of the information presented to investors, helping to mitigate the risk of material misstatements or omissions. Working closely with the City's finance team, bond counsel, and municipal advisor, Disclosure Counsel reviews financial and operational disclosures, drafts legal sections of the official statements, and provides legal advice in connection with the City's obligations under SEC Rule 15c2-12 and other applicable regulations. Their expertise helps protect the City from potential legal and regulatory risks while maintaining investor confidence in the bond issuance process. Underwriters — An Underwriter will be selected in advance for all debt issued in a negotiated sale method. The Underwriter is responsible for purchasing debt and reselling the debt to investors. Arbitrage Rebate Consultant — As necessary, the City may engage with an arbitrage rebate consultant to ensure the City is compliant with Tax Law on tax-exempt bonds by calculating potential arbitrage rebate liabilities. The consultant will analyze investment earnings, determine rebate amounts owed under IRS Code 148(f), and assist with documentation, deadlines, and best practices to minimize exposure and avoid penalties. City of Tukwila Debt Policy Page 5 of 10 29