Oregon Administrative Rules › Chapter 123 - OREGON BUSINESS DEVELOPMENT DEPARTMENT › Division 11 - OREGON ECONOMIC DEVELOPMENT REVENUE BONDS › Section 123-011-0045 - Fees

Current through Register Vol. 63, No. 7, July 1, 2024
Applicants shall pay the Department and the Commission's bond
				counsel the following fees and expenses:
(1) For a new money Bond which is not a
			 refunding, modification, restructuring, or reissuance:
(a) Applicant shall pay to the Department a
			 non-refundable application fee of $500 that shall accompany the application,
			 unless the project is an Exempt Facility solid waste disposal waste-to-energy
			 project. If the project is an Exempt Facility solid waste disposal
			 waste-to-energy project, the Applicant shall pay to the Department a
			 non-refundable application fee of $2,500 that shall accompany the application.
			 If an Exempt Facility solid waste disposal waste-to-energy Bond closes, $2,000
			 shall 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
			 (0.1%) of the total Bonds proposed to be issued for the project up to a maximum
			 amount of $50,000. The fee 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; provided, however, that if the request
			 is for an extension of a Resolution for Project Eligibility, the fee shall be
			 calculated based only on the increase, if any, from the amount of the Bonds
			 approved in the pending Resolution to the amount of the Bonds sought in the
			 request for the Resolution's extension. If the Resolution for Project
			 Eligibility is not approved, this fee, in whole or part, may be refunded at the
			 Department's sole discretion. If the Resolution for Project Eligibility is
			 approved, this fee will not be refunded but if the Bond closes, it shall 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 fee of 1/10 of one percent (0.1%) of the PABC allocation
			 requested, up to a maximum amount of $10,000, for each such request. If the
			 Applicant's request to PABC is denied, in whole or part, the Department may
			 refund this fee, in whole or part, at its sole discretion. If the Bonds close,
			 this fee shall be credited towards the total closing fee due at closing. This
			 fee is in addition to any fees charged directly by PABC.
(d) For Bond issues 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 which equals
			 ½ of one percent (0.5%) of the total amount of bond proceeds (par plus
			 premium or minus discount) from Bonds issued for the project for the first
			 $10,000,000 in bond proceeds plus ¼ of one percent (0.25%) of proceeds
			 in excess of $10,000,000. When bonds are issued in more than one series for an
			 eligible project, this bond closing fee shall be applied to the total amount of
			 bond proceeds from all series.
(e)
			 For the Oregon Express Bond Program, the Applicant shall pay to the Department
			 at the time of initial Bond closing a closing fee of ¼ of one percent
			 (0.25%) of the total Bond issuance for the project, regardless of the total
			 amount of Bonds. When bonds are issued in more than one series for an eligible
			 project, this bond closing fee shall be applied to the total amount of Bonds
			 from all series.
(f) The total
			 closing fee due at closing shall be adjusted by the credits described in OAR
			 123-011-0045(1)
			 (a) - (c).
(g) The fees imposed by OAR
			 123-011-0045(1)(a)-(e)
			 shall apply to both tax-exempt and taxable bonds.
(h) Before the Finance Committee or
			 Department acts on a Declaration of Intent or Resolution for Project
			 Eligibility and before the Department or Finance Committee acts on a request
			 for new money Bonds, an Applicant shall agree in writing to pay all fees
			 described in this Rule.