67-8721. SWAPS. In connection with, or incidental to, the issuance or carrying of bonds, but only for the purpose of reducing the amount or duration of payment, interest rate, spread or similar risk, or to result in a lower cost of borrowing, and not for purposes of investment or speculation, the authority may enter into contracts which the authority determines to be necessary or appropriate to hedge such risk or to place the obligation of the bonds, in whole or in part, on the interest rate, cash flow, or other basis desired by the authority, including without limitation, contracts commonly known as interest rate swap agreements, interest rate caps or floors, forward payment conversion agreements, futures or hedge contracts.
History:
[67-8721, added 2001, ch. 130, sec. 1, p. 459.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 87 - IDAHO BOND BANK AUTHORITY
Section 67-8701 - SHORT TITLE.
Section 67-8702 - DEFINITIONS.
Section 67-8704 - RETENTION OF OUTSIDE SERVICES.
Section 67-8705 - POWERS AND DUTIES OF THE AUTHORITY.
Section 67-8706 - ANNUAL REPORT.
Section 67-8707 - NEGOTIABILITY OF BONDS.
Section 67-8708 - BONDS AS LEGAL INVESTMENTS.
Section 67-8709 - TAX EXEMPTION.
Section 67-8711 - PURCHASE AND DISPOSITION OF BONDS.
Section 67-8712 - PRESUMPTION OF VALIDITY.
Section 67-8713 - RESERVE FUND — ADDITIONAL FUNDS AND ACCOUNTS.
Section 67-8714 - PERSONAL LIABILITY.
Section 67-8715 - EXEMPTION FROM EXECUTION AND SALE.
Section 67-8716 - UNLIMITED SALES TAX RECEIPTS PLEDGE.
Section 67-8717 - LIEN OF PLEDGE.
Section 67-8718 - CREDIT ENHANCEMENT OR LIQUIDITY.
Section 67-8719 - SURETY FOR DEPOSITS BY BANK.
Section 67-8720 - EXPENSES OF ADMINISTRATION.
Section 67-8722 - MUNICIPAL BONDS.
Section 67-8723 - COMPLETE AUTHORITY.
Section 67-8724 - RIGHTS NOT TO BE IMPAIRED BY STATE.
Section 67-8726 - COOPERATION BY GOVERNMENT AGENCIES.