(A) It is the policy of the City Council that in all instances where the city is requested to provide financing through an industrial building revenue bond issue for the expansion, equipping, or refinancing of a facility with respect to which there is an outstanding issue of city industrial building revenue bonds pursuant to which legal title to the facility is in the city and thereby exempt from real estate taxation, and in which the lessee of that facility has the option to renew the lease and thereby continue the real estate tax-exempt status of the facility for at least ten years beyond the final maturity of the outstanding industrial revenue bond issue, then the city shall charge an issuance fee as set out below for such new issue of bonds.
(B) The issuance fee shall be in the amount of $5,000 or .15% of the new bond issue, whichever is greater.
(Ord. O-6-82, passed 2-23-82)
(A) There is hereby established an issuance fee for all projects which the city finances through the issuance of revenue bonds under the provisions of KRS 103.200 through 103.285. This fee shall be in the amount of .2% of the total principal amount of the bonds or $1,000, whichever is greater. These fees shall be payable to the city at the time of issuance of the bonds and may be paid from the proceeds of the sale of the bonds. All such fees collected shall be deposited in the General Fund of the city and used for all purposes for which funds deposited therein may be used.
(B) The fee herein provided for shall not be charged for any bond issue for which the issuance fee provided for in § 38.01 is paid.
(Ord. O-7-84, passed 3-27-84)