Current through Register Vol. XLI, No. 50, December 13, 2024
Section 116-1-2 - Establishment Of Fee Schedule For The Issuance Of Bonds Of West VirginiaHospital Finance Authority2.1. Pursuant to the provisions of West Virginia Code § 16-29A-5(e), the West Virginia Hospital Finance Authority establishes the following fee schedule for the issuance of the bonds of the Authority:Fee Schedule
For Single Projects (projects involving only one (1) hospital in only one (1) county):
Initial Fee
$300.00 per million dollars issued
$45,000.00 maximum fee
Annual Fee
Maximum of 1/20th of 1% of bonds outstanding
For Financing Pools and Multi-County Projects (projects involving more than one (1) hospital or involving one (1) hospital in more than one (1) county:
Initial Fee
$600.00 per million dollars issued for the first ten million dollars ($10,000,000) of an issue
$375.00 per million dollars issued over the first ten million dollars of an issue
$5,000.00 minimum fee
Annual Fee
Maximum of 1/20th of 1% of bonds outstanding
For Refunding Bonds of the Authority:
Initial Fee
$2,000.00
Annual Fee
Maximum of 1/20th of 1% of bonds outstanding.
2.2. The initial fees will be applied in proportion to any fraction of a million dollars issued.2.3. The annual fees may be waived or reduced by the Authority as provided for in Section 2.5 of this Rule.2.4. The initial fees are payable at closing out of the proceeds of the bond issue.2.5. The Authority may waive or reduce the annual fees if the Authority determines that the fees are not needed for the payment of the operating expenses of the Authority: Provided, That in no event shall the annual fee of an issue exceed the issue's proportionate share of the projected operating expenses of the Authority for the year of assessment as the expenses are shown in the proposed budget adopted by the Authority for the year of assessment: Provided however, That in no event shall the annual fee established in this Section for an issue exceed 1/20th of 1% of the bonds outstanding for that issue.2.6. The annual fees are payable annually on or about September 30 of each year, the date to be as determined by the Authority.