                                 CODE OF VIRGINIA

SWAP AGREEMENTS BY HDA AUTHORIZED (§ 36-55.44:1)

In connection with, or incidental to, the issuance or carrying of notes or bonds
or the acquisition or carrying of any investments, HDA may enter into swap
agreements or other contracts or arrangements which HDA determines to be
necessary or appropriate to place obligations or investments of HDA, as
represented by notes, bonds or investments of HDA, in whole or in part, on the
interest rate, currency, cash flow or other basis desired by HDA or to hedge
payment, currency, rate, spread, or other exposure. Such contracts or
arrangements may be entered into by HDA in connection with, or incidental to,
entering into or maintaining (i) any agreement which secures notes or bonds of
HDA and is authorized or permitted by law or (ii) any investment, or contract
providing for any investment, otherwise authorized or permitted by law.
		Such contracts and arrangements may contain such payment, security, default,
remedy, and other terms and conditions as determined by HDA, after giving due
consideration to the creditworthiness of the counterparty or other obligated
party, including any rating by any nationally recognized rating agency, and any
other criteria as may be appropriate.
		In connection with, or incidental to, any of these contracts or arrangements,
HDA may enter into credit enhancement or liquidity agreements with such terms
and conditions as HDA shall determine.

HISTORY: 1994, c. 84.