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FIN-2.13 - Interest Rate Exchange Agreement


Binding City Policy





The City's Interest Rate Exchange Agreement Policy sets forth the responsibilities and authorities of the City, the City Debt Manager, the Chief Financial Officer and the Chief Administrative Officer (CAO) in developing and executing interest rate exchange agreements, also known as swaps.  See full text of the Interest Rate Exchange Agreement Policy.




The City Debt Manager, in consultation with the City Treasurer and City Controller and subject to the approval of the Chief Financial Officer and/or the CAO, will be responsible for determining if and when it is in the City's overall best financial interests to enter into a swap or related financial instruments covered by the policy.


Any amendments to this policy must be approved by the City Council after seeking advice of the CAO or designee, the City Debt Manager and the City Treasurer.




Resolution No. 36313, adopted by City Council April 27, 2005.

Replaced by Ordinance No. 181829, passed by City Council May 14, 2008 and effective July 1, 2008.