NAC349.048. Duties of Director: Determinations of ratio of taxable to tax-exempt bonds; selection of investment banking companies and financial institutions for financing.

The Director will:

     1. Determine the ratio of taxable to tax-exempt bonds that a project may receive, taking into consideration the volume cap for tax-exempt private activity bonds authorized by 26 U.S.C. § 146;

     2. For investment banking services for financing pursuant to NAC 349.010 to 349.080, inclusive:

     (a) Establish criteria for use in selecting an investment banking company; and

     (b) Based on a competitive selection process, assign an investment banking company for every issuance of publicly sold bonds; and

     3. For fiduciary services for financing pursuant to NAC 349.010 to 349.080:

     (a) Establish criteria for use in selecting a fiduciary, including, without limitation:

          (1) The difference between the costs charged for fiduciary services by a financial institution and other similar institutions; and

          (2) The amount of demonstrated experience and competency as a trustee of a financial institution; and

     (b) Periodically make requests for proposals for fiduciary services.

     (Added to NAC by Dep’t of Business & Industry by R104-08, eff. 12-17-2008)