For the purpose of minimizing the costs to the City, each applicant for the issuance of economic or industrial development bonds shall pay to the City certain fees, as follows:
(a) At the time of application, a sum equivalent to one-eighth of one percent (.125%) of the proposed bond issue; and
(b) Prior to the execution of any and all documents related to final passage of bond legislation, an additional sum equivalent to one-eighth of one percent (.125%) of the bond issue;
Provided, however, that in no event shall the total fee exceed one-fourth of one percent (.25%) of the total amount of the bond issue.
(Ord. 214-1985. Passed 12-16-85.)