- (1) The Governing Board shall first determine that the Contract or arrangement or a program of Contracts: (a) is designed to reduce the amount or duration of payment, rate, spread or similar risk, or (b) is reasonably anticipated to result in a lower cost of borrowing.
- (2) Contracts are to be used for the control or management of debt or the cost of servicing debt and not for speculation.
Contracts shall be entered into only under the following conditions:
KEY: interest rate swaps, contracts, public finance, bonds
Date of Last Change: July 3, 1995
Notice of Continuation: November 3, 2022
Authorizing, and Implemented or Interpreted Law: 51-7-18(2)(b)(viii)