In connection with, or incidental to, the issuance or carrying of the bonds, the city
may enter into investment agreements, forward purchase agreements and other investments
relating to the investment of amounts held pursuant to an issuing instrument, and
the city may also enter into any contracts which the city determines to be necessary
or appropriate to place the obligation, as represented by the bonds, in whole or in
part, on the interest rate, cash-flow, or other basis desired by the city, including,
without limitation, contracts commonly known as interest swap agreements, forward
payment conversion agreements, futures, or contracts providing for payments based
on levels of, or changes in, interest rates, stock or other indices, or contracts
to exchange cash flows or a series of payments, or contracts, including, without limitation,
interest rate floors or caps, options, puts or calls to hedge payment, rate, spread,
or similar exposure. These contracts and arrangements shall be entered into with the
parties, selected by the means, and contain the payment, security, default, remedy,
and other terms and conditions, determined by the city, after giving due consideration
for the creditworthiness of the counter parties, where applicable, including any rating
by a nationally recognized rating agency or any other criteria as may be appropriate.
