TITLE 36 LOCAL GOVERNMENT

Chapter 82 information not found

ARTICLE 11 INTEREST RATE MANAGEMENT AGREEMENTS

36-82-251. Qualified interest rate management agreements authorized.

With respect to all or any portion of any debt or lease or installment purchase contract, either issued or anticipated to be issued by the local governmental entity, the local governmental entity may enter into, terminate, amend, or otherwise modify a qualified interest rate management agreement under such terms and conditions as the local governmental entity may determine, including, without limitation, provisions permitting the local governmental entity to pay to or receive from any counterparty any loss of benefits under such agreement upon early termination thereof or default under such agreement.

(Code 1981, §36-82-251, enacted by Ga. L. 2005, p. 642, § 1/SB 227.)