67-4-16 - State financial advisor -- Duties -- Conflict of interest restrictions.
67-4-16. State financial advisor -- Duties -- Conflict of interest restrictions.
(1) The state treasurer may hire a state financial advisor on a fee-for-service basis.
(2) The state financial advisor shall advise the state treasurer, the director of theGovernor's Office of Planning and Budget, the director of the Division of Finance, the director ofthe Division of Facilities Construction and Management, and the Legislature and its staff officeson the issuance of bonds and other debt, and on all other public debt matters generally.
(3) The financial advisor may assist in the preparation of the official statement, representthe state's creditworthiness before credit rating agencies, and assist in the preparation, marketing,or issuance of public debt.
(4) (a) The state financial advisor or the firm that the advisor represents may not negotiateto underwrite debt issued by the state of Utah for which he has provided financial advisorservices.
(b) The state financial advisor may enter a competitive bid, either for his own account orin cooperation with others, in response to a call for public bids for the sale of state debt.
(5) (a) Fees directly related to the preparation, marketing, or issuance of public debt,including ordinary and necessary expenses, may be paid from the debt proceeds.
(b) Fees for other services shall be paid from the state treasurer's budget.
Amended by Chapter 13, 2000 General Session