A. In connection with, or incidental to, the issuance or carrying of bonds, or the acquisition or carrying of any investment or program of investment with respect to bonds, the city treasurer may, on the city's behalf, enter into any contracts that he or she determines to be necessary or appropriate to place the obligation or investment of the city (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 he or she desires, including the following:
1. Contracts commonly known as interest-rate-swap agreements, currency-swap agreements, forward-payment-conversion agreements, and futures;
2. Contracts providing for payments based on levels of, or changes in, interest rates, currency-exchange rates, or stock or other indices;
3. Contracts to exchange cash-flows or a series of payments;
4. Contracts to hedge payment, currency, rate, spread, or similar exposure, including interest-rate floors or caps, options, puts, and calls.
B. The city treasurer may also enter into these contracts in connection with, or incidental to, entering into or maintaining any agreement that secures bonds.
C. These contracts must contain the payment, security, default, remedy, and other terms the city treasurer determines to be appropriate. When determining the terms of, and the other parties to, these contracts, the city treasurer shall give due consideration to the creditworthiness of the other parties, including any ratings of the parties by a nationally recognized rating agency. (Ord. 2012-039 § 2)