Bond or Note Issues

Authority borrowers must pay an initial fee of 2.5 (.025%) basis points on the par amount of the bonds up to a maximum size (currently $90,000,000), which is adjusted annually by the average of the New York and Philadelphia Consumer Price Index for the previous year. 

There is also a one-time $10,000 fee per series of bonds that are issued at the same time.  If the bonds are entirely refunding bonds, the one-time per series fee is $5,000. Multiple series of bonds that are issued under different official statements are treated as totally separate issues for billing purposes.

Both the initial fee and the per series fee will be collected upon a borrower's signing of a Memorandum of Understanding with the Authority. Neither fee is refundable if the financing does not close.

The Equipment Revenue Note Program has no initial fee and no per series fee. Loans through the Capital Asset Program have a flat $500 initial fee and no per series fee.

The Master Leasing Program has an Initial Fee of 2.5 basis points of the aggregate leasing amount up to a maximum size of $92 million. In addition there is a $5,000 fee for each Master Lease being transacted; as well as a fee of $500 for each subsequent closing for any number of future sub-leases.

IMPORTANT: The annual fee structure detailed below reflects a change voted upon by the Members in June 2007. The new structure commenced with the Authority's December 31, 2007 billing cycle. Existing borrowings are held harmless from any fee increases caused by this change.

Traditional Bond or Note Issues

Ten basis points (.10%) on the declining outstanding balance as of year end, up to a maximum size (currently $90,000,000) which is adjusted annually by the average of the New York and Philadelphia Consumer Price Index for the previous year.  This will be billed on the following June 30th and December 31st with a minimum annual fee of $2,500 per series.

Variable Rate Composite Program

Ten basis points (.10%) on the declining outstanding balance as of year end, up to a maximum size (currently $90,000,000) which is adjusted annually by the average of the New York and Philadelphia Consumer Price Index for the previous year.  This will be billed on the following June 30th and December 31st with a minimum annual fee of $2,500 per series.

Equipment Revenue Note Program

Seven and a half basis points (.075%) on the declining outstanding balance as of year end to be billed on the following June 30th and December 31st billings with a minimum annual fee of $2,500.

Capital Asset Program

All annual fees are Program expenses paid through the interest rate charged on the loan.

Master Leasing Program

Ten basis points (.10%) on the declining aggregate leases as of year end to be billed in arrears on the following June 30 and December 31 with a minimum annual fee of $2,500 for the aggregate leases outstanding.

In addition to the above initial and annual fees, the Authority charges a monitoring fee of $420 per low and moderate income unit for those issues that must comply with Section 142(d) of the Internal Revenue Code. (this fee is subject to inflationary adjustment)

(1) - Specifics of the Authority Fee Schedule are available by contacting the Authority offices