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As part of the Sea Trial process, the Navy is conducting a detailed analysis of the Sea Swap experiment to determine the viability of the Sea Swap option for potential future forward presence requirements.
He awoke with the unique concept for an off balance sheet dual currency swap option with a below-market interest discount rate known as a flexi-hedfge.
Baddour, D-Methuen, chairman of the Senate Transportation Committee, said the approval of the credit proposal would "stave off potential catastrophe" for taxpayers and toll payers as payments on the swap option finance deal are expected to dramatically escalate in the coming months.
The various options offer residents the chance to turn down the purchase, buy it alone or with help from the state or a private party, or enter into a land swap option with both the state and a private party.