3 AAC 99.140 - Costs and issuance fees
(a) At the time the
authority issues bonds to provide financing for a project under
3
AAC 99.100 -
3
AAC 99.160, the applicant shall pay an issuance fee
determined as follows:
(1) if the bonds are
subject to the volume cap provisions of
26
U.S.C. 147, the issuance fee is equal to 50
basis points applied to the first $10,000,000 of the principal amount of those
bonds, 20 basis points applied to the next $40,000,000 of the principal amount
of those bonds, and 15 basis points applied to the principal amount of those
bonds issued in excess of $50,000,000.
(2) if the bonds are not subject to the
volume cap provision of
26
U.S.C. 147, the issuance fee is equal to 40
basis points applied to the first $10,000,000 of the principal amount of those
bonds, 10 basis points applied to the next $40,000,000 of the principal amount
of those bonds, and 9 basis points applied to the principal amount of those
bonds issued in excess of $50,000,000;
(3) if a portion of the bonds is subject to
the volume cap of
26
U.S.C. 147 and a portion is not, the issuance
fee is equal to the sum of the issuance fee determined under (1) of this
subsection for the portion of the bonds that is subject to the volume cap
provisions of
26
U.S.C. 147 and the issuance fee determined
under (2) of this subsection for the remaining portion of the bonds.
(b) A person may apply to the
authority to modify the tenns of its pending application with the authority or
to take an action relating to a bond previously issued by the authority. If the
request is to modify the terms of a pending application and if the
modification, in the sole determination of the authority, requires action by
the board, the applicant shall pay to the authority a nonrefundable $550 fee.
If the request is for the authority to take an action relating to outstanding
bonds and the authority, in its discretion, elects to take such action or,
under the applicable documentation, is required to take such action, the
applicant shall pay the reasonable costs of the authority, including costs for
authority personnel, bond counsel costs, and other costs.
(c) An applicant shall pay other costs and
fees prescribed by law or agreement that are not provided in (a) of this
section. These costs or fees may include financial advisor fees, bond counsel
fees, and other expenses of the authority related to bond issuance.
Notes
Authority:AS 44.88.080
AS 44.88.085
AS 44.88.090
AS 44.88.212
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