Bill No.: HB0309                  Drafter:  JHR

 

LSO No.:  05LSO-0663              Effective Date:  2/24/2005

 

Enrolled Act No.:  HEA0059

 

Chapter No.:       109

 

Prime Sponsor:     Representative Cohee

 

Catch Title:       Reducing terms of bonds.

 

Subject:  Authorizes the reduction in the terms of payment of bonds issued by governmental entities as specified.

 

 

Summary/Major Elements:

 

·        This bill authorizes the state treasurer or a treasurer of a political subdivision, municipality, special district and boards of trustees and boards of directors of county hospitals, airports, fairs and other county boards and commissions to enter into contracts to hedge risk or to place the obligation of bonds on the interest rate, cash flow or other basis desired, including contracts known as interest rate swap agreements, interest rate caps or floors, forward payment conversion agreement futures or hedge contracts.