Section 1400.5  Fees and Costs Applicable to the Sale of Bonds (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.10  Authority Fee Initial

 

a)         Except with respect to equipment financings and financings involving multiple, unaffiliated borrowers, the Authority's initial fee for a proposed financing transaction is determined by the principal amount of the proposed financing, as provided in the following table:

 

Principal
Amount of Proposed	Amount of
Financing	Initial FeeATTNb
Up to $5,000,000	$20,000
$5,000,001 to $25,000,000	$20,000 plus 0.075% of the principal amount in excess of $5,000,000
$25,000,001 to $75,000,000	$35,000 plus 0.06% of the principal amount in excess of $25,000,000
Over $75,000,000	$65,000

 

b)         The initial fee is payable as follows:

 

1)         5% of the initial fee is payable following the organizational meeting relating to the proposed financing;

 

2)         50% of the initial fee is payable following the issuance of the Preliminary Official Statement or other offering document related to the proposed financing; and

 

3)         45% of the initial fee is payable upon the closing of the financing.

 

c)         Upon the effectiveness of this rule, the Authority shall, with respect to all initial fees due and payable after January 1, 1994, credit against the unpaid amount thereof the difference (the "Fee Difference") between the aggregate amount of such fees payable prior to the effectiveness of this rule and the aggregate amount of such fees payable after the effectiveness of this rule; provided that, if the initial fees due and payable after January 1, 1994, by an institution in respect of a financing have been paid in full, the Authority shall refund the fee difference to such institution.

 

(Source:  Amended at 18 Ill. Reg. 10712, effective June 30, 1994)

 

Section 1400.20  Authority's Annual Fee

 

Each institution which obtains financing through the Authority shall pay a fee (the "Annual Fee") to the Authority.  Except with respect to equipment financings and financings involving multiple, unaffiliated borrowers, such Annual Fee shall not exceed the lesser of (i) 0.025 % of the outstanding principal balance of such institution's financing from the Authority and (ii) the amount of $15,000 per year per issue.  Subject to the foregoing limits, the rate that will be used to calculate the Annual Fee and the terms of its payment (which may include a lump sum payment) shall be established by resolution of the Authority.  Pursuant to Section 4.17 of the Illinois Health Facilities Authority Act, the rate to be applied in determining the annual fee shall be sufficient, when combined with other fees charged, to cover the administrative costs and expenses of the Authority.

 

(Source:  Renumbered from Section 1400.110 and amended at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.30  Payment of Application Fee (Repealed)

 

(Source:  Repealed at 18 Ill. Reg. 10712, effective June 30, 1994)

 

Section 1400.40  Financial Feasibility Costs (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.50  Bond Rating Agency Fees (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.60  Printing Costs (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.70  Bond Counsel (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.80  Trustee Fees (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.90  Title Insurance (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.100  Payment of Fees and Costs (Repealed)

 

(Source:  Repealed at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.110  Authority's Annual Fee (Renumbered)

 

(Source:  Renumbered to Section 1400.20 at 20 Ill. Reg. 5831, effective April 12, 1996)

 

Section 1400.TABLE B  Authority Application Fee (For short-term financing etc.) (Repealed)

 

(Source:  Repealed at 18 Ill. Reg. 10712, effective June 30, 1994)