Revenue Bond Issue Fees

While the fees may vary for some of the Council's programs, the origination and ongoing fees for revenue bond issues and leases are outlined below. ValuLease and ValuLoan Program fees are itemized separately.

Origination Fees

• Non-refundable origination fee equal to one-tenth of one percent of the principal amount of the single facility revenue bonds or the lease.
• Minimum origination fee of $7,000.
• Maximum origination fee of $20,000.
• Nonrefundable application fee of $1,500 to accompany the project plan. The application fee will be deducted from the origination fee at closing.

Annual Fees

• Five basis points on the outstanding principal amount of the single facility revenue bonds or the lease.
• Minimum annual fee of $1,000 per year.
• Maximum annual fee of $7,500 per year.

Other Fees

• All legal fees, including the borrower's legal counsel fees, bond counsel fees, special tax counsel fees (if required), and the Council's general counsel fees, are the responsibility of the borrower.
• For complex borrowings, the Council may require that a financial advisor be retained, at the borrower's expense, to assist with analysis of the financing on behalf of the Council.

Lease Program Fees

The ValuLease Program is designed to minimize the processing fees for leases and provide savings to the borrower. The typical fees for the Program are:

Origination Fees

• Non-refundable origination fee equal to one-tenth of one percent of the principal amount of the lease.
• Maximum origination fee of $7,000.
• Bond counsel fees of $10,000, including due diligence, plus out-of-pocket expenses (not to exceed $1,500) and gross receipts taxes.
• If required, financial advisor fees of $7,500 per lease transaction, plus out-of-pocket expenses.

Annual Fees

• Five basis points on the outstanding principal amount of the single facility revenue bonds or the lease.

Other Fees

• The borrower's legal counsel fees are the responsibility of the borrower.

Loan Program Fees

The ValuLoan Program is designed to minimize the processing fees of the loan and, therefore, provide an economic savings to the borrower. The typical fees for the Program are:

Origination Fees

• Non-refundable origination fee equal to one-tenth of one percent of the principal amount of the lease.
• Maximum origination fee of $7,000.
• Bond counsel fees of $10,000, including due diligence, plus out-of-pocket expenses (not to exceed $1,500) and gross receipts taxes.
• Bank fees which are normally one percent of the loan value.
• Bank counsel fees of $3,000, plus gross receipts taxes.
• Depository bank fee of approximately $500.

Annual Fees

• Five basis points on the outstanding principal amount of the loan or $1,000, whichever is greater.

Other Fees

• The borrower’s legal counsel fees are the responsibility of the borrower.