Oregon
Rule Rule 123-011-0045
Fees


Applicants shall pay the Department and the Commissions bond counsel the following fees and expenses:

(1)

For a new money Bond which is not a refunding or restructuring:

(a)

Applicant shall pay to the Department a non-refundable application fee of $500 that shall accompany the application. If the project is an Exempt Facility solid waste disposal waste-to-energy project, the Applicant shall pay to the Department an additional non-refundable application fee of $2,000 that shall accompany the application. If an Exempt Facility solid waste disposal waste-to-energy Bond closes, $2,000 may be credited towards the total closing fee due at closing.

(b)

For Bonds to be issued for Exempt Facility solid waste disposal waste-to-energy projects, the Applicant shall pay to the Department a fee of up to the greater of $10,000 or 1/10 of one percent of the total Bonds proposed to be issued for the project to a maximum amount of $50,000 that shall accompany the request for approval of a Resolution for Project Eligibility or the request for approval of an extension of a Resolution for Project Eligibility. If the Resolution for Project Eligibility is not approved, this fee will be refunded. If the Resolution for Project Eligibility is approved, this fee will not be refunded but if the Bond closes, it may be credited towards the total bond closing fee due at closing.

(c)

If the Department brings a request for current year or carry forward allocation to the Private Activity Bond Committee (PABC), the Applicant benefiting from the allocation request shall pay the Department a non-refundable fee of up to the greater of $10,000 or 1/10 of one percent of PABC allocation requested for each such request. If the Bond closes, this fee may be credited towards the total closing fee due at closing.

(d)

For Bonds which are not issued under the Oregon Express Bond Program, the Applicant shall pay to the Department at the time of initial Bond closing a closing fee of of one percent of the total Bonds issued for the project. For the Oregon Express Bond Program, the Applicant shall pay to the Department at the time of initial Bond closing a closing fee of of one percent of the total Bond issuance for the project. The total closing fee due at closing shall be adjusted by the credits described in OAR 123-011-0045 (a) (c).

(e)

For Bonds that exceed $10,000,000, the Department, at its sole discretion, may offer alternative fee payment options that may include a reduced closing fee and/or annual fees based upon the outstanding principal balance of the Bonds provided the total fees collected does not exceed of one percent of the amount of the Bonds issued at closing.

(2)

For a current refunding of an outstanding Bond:

(a)

The Applicant shall pay to the Department a non-refundable processing fee of $500 that shall accompany the request for the refunding.

(b)

The Applicant shall pay to the Department a closing fee of 1/10 of one percent of the amount of the refunding Bond or for any additional Bonds issued under a single project eligibility. This closing fee may be waived for any refunding Bond issued within 18 months of the closing date of the Bond issue to be refunded.

(3)

For the modification or restructuring of existing Bonds:

(a)

The Applicant shall pay to the Department a non-refundable processing fee of $1,000 that shall accompany the request for approval of the modification or restructuring.

(b)

The Department may charge the Applicant a closing fee of 1/10 of one percent of the amount of the modified or restructured Bond.

(4)

The Department may charge any out-of-pocket expenses, including but not limited to legal expenses, incurred by the Department for processing any Bond request. The Department may charge an estimation of these expenses in advance of the scheduled Bond closing. Any overpayments for estimated out-of-pocket expenses will be credited to the applicant at Bond closing.

(5)

The Commission may collect the above fees and expense reimbursements from an Applicant that seeks to have an Economic Development Project declared eligible for financing, even though the project has not been determined to be eligible for financing.

(6)

Applicants or beneficiaries of Bond financing shall pay directly to the Commissions bond counsel their legal fees and direct expenses related to issuance, refunding, modifications, restructuring or for other miscellaneous legal charges related to the Bonds.
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Last accessed
Dec. 13, 2019