N.Y. Comp. Codes R. & Regs. tit. 2 § 107.3

Current through Register Vol. 46, No. 50, December 11, 2024

Section 107.3 - Request for proposals

(a) Determination; candidate firms. When the Comptroller has determined it to be in the interests of the State to cause COPS to be sold through a request for proposals, requests shall be sent to at least five firms that have, in the Comptroller's judgment, sufficient financial resources, expertise and experience to finance and market the COPS.

(b) Criteria for selection. The Comptroller shall select a firm or firms from among those submitting a proposal in accordance with this section. Such selection shall take into account, but not be limited to, the following factors:

(1) the total cost to the State;

(2) the financial resources of the firms;

(3) the experience and ability of the firms to finance and market the COPS;

(4) the experience and ability of the individuals whom the firms plan to involve directly in the financing and marketing; and

(5) the soundness of the firms' overall financing and marketing plans.

(c) Contents of request for proposal. A request for proposal prepared for candidate firms pursuant to subdivision (a) of this section shall request information from the firms that will enable the Comptroller to evaluate the firms in light of the factors set forth in subdivision (b) of this section as well as any other matters the Comptroller deems relevant. The request for proposal shall also contain a provision to the effect that the Comptroller may reject any or all proposals submitted in response thereto.

N.Y. Comp. Codes R. & Regs. Tit. 2 § 107.3