Hr 2108 the District of Columbia Convention Center And Sports Arena Authoriza
Hr 2108 the District of Columbia Convention Center And Sports Arena Authoriza
Zation20act20of201987203a20hearing20before
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875, plus 200 basis points. This equates to 7. 875 percent. • Interest rate protection - On or before October 31, 1995, unless the loan has been fully refinanced with a tax-exempt alternative financing, RLA must enter into an interest ^LIBOR means, as defined by NationsBank and Crestar Bank, for each interest period, the rate at which one-month U. S. Dollar deposits are offered to NationsBank in the London interbank market by leading banks in such market at approximately 11:00 a. M. (London tim...e) two business days prior to the first day of such interest period, as adjusted for Federal Reserve Board requirements and similar assessments, if any, imposed on the banks from time to time. 12 37 rate swap, ' cap/ collar*, or some other agreement acceptable to the banks providing a hedge against any interest rate increase on the loan above 9 percent per annum. If the loan has been partially refinanced wXh a tax-exempt alternative, RLA must enter into an interest rate protection agreement on that portion of the loan which has not been financed.
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