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.