Nevada Administrative Code
Chapter 349 - State Obligations
REVENUE BONDS FOR INDUSTRIAL DEVELOPMENT
Section 349.048 - Duties of Director: Determinations of ratio of taxable to tax-exempt bonds; selection of investment banking companies and financial institutions for financing

Universal Citation: NV Admin Code 349.048

Current through September 16, 2024

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

NRS 349.630

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