Guam § 51105 - Financial Contracts to Achieve Savings.

§ 51105. Financial Contracts to Achieve Savings.

Any agency, authority or instrumentality of the government

and I Maga=lahen Guåhan [Governor of Guam] on behalf of the

government of Guam, in connection with, or incidental to, the

issuance of bonds under this Chapter, or the carrying of any

investment or program of investment under this Chapter, may

enter into any contracts which GEDA determines to be necessary

or appropriate to place the obligation or investment of the agency,

authority or instrumentality of the government, as represented by

the bonds, investment or program of investment and the contract

or contracts, in whole or in part, on the interest rate, currency,

cash-flow, or other basis desired by GEDA in the furtherance of

the purposes of this Chapter, including, without limitation,

contracts commonly known as interest rate swap agreements,

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currency swap agreements, forward payment conversion

agreements, futures, or contracts providing for payments based on

levels of, or changes in, interest rates, currency exchange rates, or

contracts to exchange cash flows or a series of payments, or

contracts, including, without limitation, interest rate floors or

caps, options, put or call to hedge payment, currency, rate, spread,

or similar exposure. These contracts or arrangements may also be

entered into by GEDA in connection with, or incidental to,

entering into or maintaining any agreement which secures bonds.

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

GEDA, after giving due consideration for the creditworthiness of

the counterparties, where applicable, including any rating by a

nationally recognized rating agency or any other criteria as may

be appropriate.