Policies for Fee Collection and Retention
- Issuance Fees and Annual Administration Fees will be assessed according to CSCDA policy.
- All Issuance Fees will be collected at the closing of the bond issue except for issues requiring State of California (the “State”) volume cap. Issuance fees for applications requiring State volume cap will be collected at the time of application submission to the State.
- An Issuance Fee Deposit of $5,000 ($2,500 for designated Small Issue Program projects) will be collected at the time of application submission for each financing application. The Issuance Fee Deposit is nonrefundable unless CSCDA, the State, or the city or county in which the project resides declines the proposed financing. The Issuance Fee Deposit is applied to the issuance fee at closing.
- No other fees will be collected unless and until the project financing closes, with the exception of projects requiring allocation of State volume cap. For projects requiring volume cap, the entire Issuance Fee is forfeited if the financing fails once the volume cap has been awarded by the State. If the application is withdrawn by the applicant, after submission to the State, but prior to the award of allocation, all fees except the Issuance Fee Deposit are refundable.
- All Annual Administration Fees will be paid at the time interest payments are due but no less than once a year. Annual Administration Fees are assessed against the original principal or outstanding principal at the required payment dates based on the financing type as noted on the Fee Schedule.
- A minimum Issuance Fee of $10,000 will be charged for any Individual Project.
An Individual Project may be defined as a project that has been awarded State volume cap in the past and requires additional volume cap for project completion within two years of original bond issuance, subject to Executive Director and Program Manager review. An Individual Project does not include the issuance of bonds for refunding purposes or phasing a project for State volume cap purposes. An Individual Project seeking an additional award of State volume cap for project completion in conjunction with a refunding of prior bonds issued will be subject to the Issuance Fee as specified on the Fee Schedule.