Oregon
Rule Rule 122-075-0160
Charges for Bond Administration


(1)

Administrative Costs:

(a)

All costs incurred by the Department and the State Treasurer to administer outstanding Bonds will be charged to the appropriate Benefiting Agency.

(b)

Actual charges for fiscal agent services and trustee services for any Bonds will be passed through to the Benefiting Agency.

(c)

All other costs incurred by the Department, including bond counsel or other legal fees, to administer outstanding Bonds will be charged to the appropriate Benefiting Agency.

(d)

The Capital Investment Section shall charge fees in connection with the services, duties and activities related to issuance and approval of Bonds to the appropriate Benefiting Agency on behalf of the Department.

(2)

Tax anticipation notes will be charged a fee of $45,000 to the appropriate Benefiting Agency.

(3)

Sale of Bonds:

(a)

For a single series sale with a single project, Benefiting Agency will be charged $26,000.

(b)

For a single series sale with more than one project, Benefiting Agency will be charged $35,000, plus $2,500 for each project beyond three to a maximum amount of $50,000. The charge will be prorated among the projects financed based upon the principal amount allocated to each project.

(c)

For a multiple series sale with a single project, Benefiting Agency will be charged $26,000 for the initial series and a fee of $20,000 per additional series issued.

(d)

For a multiple series sale with more than one project, Benefiting Agency will be charged $35,000 plus $2,500 for each project beyond three to a maximum amount of $50,000 for each series. Furthermore, the Benefiting Agency will be charged a fee of $20,000 per additional series issued. The charges will be prorated among the projects financed based upon the principal amount allocated to each project.

(4)

Refunding Sales of Bonds:

(a)

A fee of $25,000 will be charged for advance refundings of outstanding series per series refunded.

(b)

A current refunding will be charged as an additional project under a Sale of Bonds in section (3) above.

(5)

Defeasance of Bonds: For the economic or legal defeasance of outstanding Bonds, the Department will charge a fee of $10,000.

(6)

Arbitrage Calculations:

(a)

The Benefiting Agency will be charged for the calculation of arbitrage liability for annual statewide financial reporting and for each five year required reporting period.

(b)

Each series with a single Benefiting Agency that has unspent proceeds or a Bond funded reserve will be charged $1,000 annually when the Capital Investment Section performs and provides the calculation to the Benefiting Agency of the estimated arbitrage liability.

(c)

Each series with multiple Benefiting Agencies that has unspent proceeds or a Bond funded reserve will be charged $500 annually per Benefiting Agency when the Capital Investment Section performs and provides the calculation to the Benefiting Agency of the estimated arbitrage liability.

(d)

The Benefiting Agency will reimburse the Department for the actual costs of the services performed when the calculation and documentation is performed by a private contractor under a professional services contract with the Capital Investment Section.

(e)

The Benefiting Agency will reimburse the Department for the direct cost of any work performed by bond counsel, Department of Justice counsel, or other contractors hired by the Capital Investment Section to provide assistance related to Internal Revenue Code compliance requirements.
Source
Last accessed
Aug. 21, 2019