HB613 Summary

• Applies to Jefferson County debt exceeding $5,000,000 and all swap agreements entered into by the county.

• Requires county to publish notice in a newspaper at least 4 days before a public hearing, including detailed information about proposed debt or swap agreements, with a public hearing held 3-10 days before entering into any binding agreement.

• Mandates competitive bidding for all swap agreements by inviting at least 4 qualified swap providers to submit independent written proposals with all terms specified except a single "bid number."

• Requires county to file a written report in public records within 7 days of entering into debt or swap agreements, detailing final terms, any variations from notices, and all payments to service providers.

• Prohibits county payments to service providers unless they submit sworn written statements declaring payment amounts, purposes, and identities of any third parties receiving indirect payments, with statements filed in public records.