Massachusetts officials are considering extending a general obligation pledge on $800 million of Massachusetts Turnpike Authority swaps to resolve a termination event notice and avoid a $282 million payment to UBS Securities LLC by July 24.

Jay Gonzalez, undersecretary of the Executive Office for Administration and Finance, said Gov. Deval Patrick may ask lawmakers to reinstate a commonwealth GO guarantee on the derivatives, which ended on June 30. MassPike has until July 24 to resolve the issue, he said.

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