Or. Admin. Code § 172-005-0065

Current through Register Vol. 63, No. 12, December 1, 2024

Section 172-005-0065 - Fees

(1) The Authority shall collect the fees set forth in OAR 172-005-0065(2) and (3) from an applicant that seeks to have a project declared eligible for financing. The fee identified in OAR 172-005-0065(2) may be collected even though the project has not been determined to be eligible for financing.

(2) The Authority shall collect a $500 application fee from the applicant.

(3) The Authority shall collect the following closing fee:

(a) For Small Nonprofit Accelerated Program (SNAP) bonds: 0.5% of the amount of the bond up to $600,000, plus 0.3% of the amount of the bond in excess of $600,000.

(b) For other bonds:

(i) For bond issues up to $5,000,000, 0.3% of the amount issued.

(ii) For bond issues between $5,000,000 and $10,000,000, $15,000 plus 0.2% of the amount issued in excess of $5,000,000.

(iii) For bond issues between $10,000,000 and $20,000,000, $25,000 plus 0.15% of the amount issued in excess of $10,000,000.

(iv) For bond issues over $20,000,000, $40,000 plus 0.05% of the amount issued in excess of $20,000,000.

(c) For refinancing existing Authority-related bonds, 0.05% of the amount of the Authority-related bonds refinanced

(4) Payment of the closing fee by a participating institution shall not preclude the Authority from assessing against a participating institution a reasonable share of the Authority's annual costs and charges incurred in connection with the audits performed and other services rendered by the Secretary of State or the State Treasurer with respect to the Authority.

(5) For transactions that involve new or complex financing structures or special provisions,the Authority may increase any of the fees described in this Section to be charged to a participating institution, and any such increased fees will be stated in the resolution approving the application.

(6) In addition to the fees described in OAR 172-005-0065 (1) through (5) above, the participating institution will be required to pay the fees charged by or for the services of the Authority's bond counsel and financial advisor.

(7) If in the opinion of the Authority an amendment or action by the Authority in regard to the terms of an existing bond series is desirable or required, the participating institution will be required to pay the charges imposed by the Authority and the fees charged by its bond counsel to implement such amendment or action. From time to time the Authority may promulgate a schedule of a fixed charges for such amendments or actions, which charges may vary to reflect the complexity of the amendment or action or increased costs of the Authority.

Or. Admin. Code § 172-005-0065

OFA 1-2011, f. & cert. ef. 1-10-11

Stat. Auth: ORS 289.125(4) & ORS 289.125(5)

Stats. Implemented: ORS 289.125(4) & ORS 289.125(5)