1. Upon the approval of the State Board of Finance, the Division may enter into instruments, agreements and other such transactions for one or more of the following purposes:
(a) Reducing or modifying the amount or duration of any payment, interest rate, spread or similar risk;
(b) Lowering the cost of borrowing when used in combination with the issuance or carrying of bonds or investments; or
(c) Enhancing the relationship between risk and return with respect to the programs of the Division for lending or investment or any portion thereof.
2. In entering into such instruments, agreements or other such transactions, the Division shall consider the creditworthiness of the counterparties and other relevant criteria relating to the objectives of the programs of the Division.
(Added to NRS by 2001, 2120; A 2003, 2194; 2009, 650)