Suppose the city of Chicago issues a floating rate bond to finance a new middle school. The bond has a 5-year maturity, a par value of 10 million, and an annual coupon payment equal to 12-month LIBOR plus a spread of 1.5%. The fixed rate on a 5-year, annual settlement, 12-month LIBOR swap is 5% per year. Briefly explain how the city could use this swap to convert its floating rate bond into a synthetic fixed rate bond? For example, should the city be long or short the swap? What should be the notional principal and maturity of the swap?