New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 49 - PUBLIC-PRIVATE PARTNERSHIPS RULES
Subchapter 3 - QUALIFICATION OF EXPERTS AND PROFESSIONALS
Section 17:49-3.1 - Pre-qualification of third-party financial institutions
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The Office of Public Finance shall pre-qualify third-party financial institutions that shall act as collateral agents and manage construction accounts for public-private partnership agreements.
(b) The minimum standards to qualify shall include:
(c) A financial institution seeking to become pre-qualified shall submit a letter to the Office of Public Finance outlining how its institution successfully satisfies the minimum standard required and its commitment to (d) below.
(d) Financial institutions shall agree to provide the appropriate public entity pre-audit access during the term of engagement and for six years thereafter.
(e) The Office of Public Finance shall maintain a list of third-party institutions that have been pre-qualified.