HomeMy WebLinkAboutResolutions - No. IDA-2RESOLUTION NO. IDA -2
A RESOLUTION OF THE INDUSTRIAL DEVELOPMENT AUIHORITY
OF THE CITY OF LCDI
ESTABLISHING A FEE SSE 10 FUND ALMINISTRATIC
EXPENSES OF SAID AUTHORITY
(Government Code §91527(n))
BE IT RESOLVED, that pursuant to Government Code
§91527(n), the Industrial Development Authority of the City of
Lodi hereby establishes the following fee schedule to fund
administration expenses to utilize such authority in the
issuance of revenue bonds:
(1) A non-refundable application fee in the
amount of one thousand two hundred fifty
dollars ($1,250) for each project to be
considered for eligibility. Further, if
accepted, there is a one-time administration
fee in the amount of one-fourth of 1 percent
(.25%) of the principal amount of the
financing, due at the closing of the
financing. The original application fee
shall be credited against the .25%
administration fee. In the event that no
closing occurs, the Industrial Development
Authority of the City of Lodi will require
reimbursements for its estimated actual
processing costs.
APPROVED AND ADOPTED THIS 9TH DAY OF NOVEMBER, 1984.
cr-/th/
Jin Randy gni-der
Chairperson, Industrial
Development Authority
City of Lodi, California
Attest:
Alice M. Reimche
Secretary
Industrial Development Authority
City of Lodi, California
IDA -2