Laserfiche WebLink
V. FEES <br />A. A non - refundable application fee of $1,000 is due at the time the application is <br />made. This fee shall be due in the case of an application for either a new money <br />bond issue or a refunding bond issue. This application fee is in addition to the <br />other fees set forth below and is not a credit against said additional fees. <br />B. A bond administration fee of the greater of $10,000 or 0.50% of the principal <br />amount of the bonds is due at the time of closing on the bonds, subject to a <br />maximum fee of $50,000. This fee shall be due in the case of all new money <br />issues. <br />C. For bonds to be issued to refund a bond issue not issued by the City and for which <br />the bond administration fee in paragraph B was previously paid to the City, no <br />additional bond administration fee will be required. <br />D. For bonds to be issued to refund a bond issue previously issued by the City or its <br />EDA, a bond administration fee of the greater of $10,000 or 0.25% of the <br />principal amount of the refunding bonds is due at the time of closing on the <br />bonds, subject to a maximum fee of $50,000. <br />E.All fees and expenses in relation to the issuance of the bonds (in addition to the <br />foregoing application fee and bond administrative fee), including the fees of the <br />City's bond counsel, shall be the responsibility of the applicant, regardless of <br />whether the bonds are actually issued. <br />F.For applications requiring an allocation of bonding authority from Minnesota <br />Management and Budget ( "MMB ") pursuant to the provisions of Chapter 474A, <br />an application, in the form prescribed by MMB, must be submitted to MMB along <br />with the appropriate application deposit and nonrefundable application fee due to <br />MMB. <br />VI. HOST APPROVAL <br />The City will consider requests for the issuance of bonds by other political subdivisions to <br />finance of projects in the City. In these cases, the non - refundable application fee must be paid. No <br />administrative fee is charged, except actual costs incurred by the City, including costs associated <br />with a review by the City's bond counsel (if necessary), must be reimbursed. The City reserves the <br />right to reject such requests for any reason, including without limitation a determination by the City <br />that such issuance by another political subdivision would impair the City's ability to issue <br />governmental bonds as "bank qualified bonds" in that calendar year. <br />VII. REFUNDING BONDS <br />Previous issuance of bonds by the City does not commit the City to the issuance of <br />refunding bonds at a future date. Applications for the refunding of previously issued bonds will <br />be evaluated in terms of general benefit to the City based on such factors as financial benefit to <br />Page 4