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.