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(a) In connection with revenue bonds issued by an authority, the authority may enter into a contract for effective interest rates.
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(b) A contract for effective interest rates may be entered into at the time the bonds are issued or at any time while the bonds are outstanding.
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(c) A contract for effective interest rates may also be entered into by authorities in connection with an agreement that secures bonds or provides liquidity for the bonds.
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(d)
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(1) A contract for effective interest rates shall be made upon the terms and conditions established by the governing body of the authority.
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(2) The contract may include terms permitting the authority to pay to or receive from a person or entity any loss of benefits under the contract upon an early termination or a default under the contract.
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