Fees and Costs

The non-refundable fee for filing an Application is $3,000 which must be paid at the time the Application is filed. 

At closing an additional fee of 2 basis points (.0002) of the aggregate principal amount of Bonds issued, with a minimum of $1,000, shall be paid to The Authority. 

By submitting an Application, the Applicant also agrees to pay on demand all costs and expenses incurred by The Authority relative to the proposed financing, including the fees of its Legal Counsel relative to the preparation, filing and processing of the Application, review of legal proceedings and the issuance of the Bonds.  The obligation of the Applicant to pay these costs and expenses remains, even if the Bonds are not funded for any reason.  Applicant should consult with Legal Counsel regarding their respective payment terms and retainer requirements.

In addition, the bond financing documents executed and delivered by the Authority must contain a covenant of the Applicant to pay an annual administrative fee to The Authority as follows:

 Non-Profits:   In an amount equal to 7.5 basis points (.00075) of 
                        the outstanding aggregate principal amount of bonds 
                        on each January 1, with a minimum of $3,000, without 
                        demand.  The annual administrative fee is to be 
                        collected in advance by the Trustee and paid to the 
                        Issuer, initially on the closing date of the Bonds in a 
                        prorated amount and thereafter on every January 15. 

For-Profits:     In an amount equal to 9 basis points (.0009) of the 
                        outstanding aggregate principal amount of bonds on 
                        each January 1, without demand.  The annual 
                        administrative fee is to be collected in advance by the 
                        Trustee and paid to the Issuer, initially on the closing 
                        date of the Bonds in a prorated amount and 
                        thereafter on every January 15.