Current through Register Vol. XLI, No. 50, December 13, 2024
Section 116-1-3 - Allocation Of Costs Applicable To Issuance Of Bonds Of West Virginia Hospital Finance Authority3.1. The Authority may allocate any or all costs incurred by the Authority that can be directly attributed to a bond issue pending before the Authority to that bond issue and the allocated costs shall be paid at closing out of the proceeds of that bond issue. All allocated costs are in addition to the fees established in Section 2 of this Rule.3.2. Without limiting in any manner the costs that may be allocated pursuant to Section 3.1 of this Rule, the Authority may allocate any or all legal and other professional fees incurred by the Authority that can be directly attributed to a bond issue to that bond issue and the legal and other professional fees allocated shall be paid at closing out of the proceeds of that bond issue. All costs allocated shall be in addition to the fees established in Section 2 of this Rule.3.3. In the event that a bond issue is not consummated for any reason, whether by action of the Authority or otherwise, the Authority may allocate any or all costs incurred by the Authority that can be directly attributed to the bond issue, including any legal and other professional fees, to that bond issue and the costs allocated shall be paid by the hospital, corporation, association or other entity, if any, that proposed or requested the bond issue.