1-16B-55. Authority may contract to manage payment or interest rate risk for bonds.
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/sd/title-1/chapter-1-16/1-16b-55A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The authority may enter into any contract that the authority determines necessary or appropriate to manage payment or interest rate risk for bonds issued pursuant to this chapter, the investment of proceeds, or other funds of the authority. The contracts may include: interest rate exchange agreements; contracts providing for payment or receipt of funds based on levels of or changes in interest rates; contracts to exchange cash flows or series of payments; or contracts incorporating interest rate caps, collars, floors, or locks.