(A) The Warrick County Economic Development Commission shall charge a fee to be paid to the Commission to cover its costs of operation in the issuing of bonds by Warrick County under I.C.36-7-12-25. Said fee amount shall be payable to the Commission solely from revenues and receipts derived from the financing agreement or from payments made under a guaranty agreement by developers, users, or related persons.
(B) A fee charged by the Warrick County Economic Development Commission under this § 37.44 shall not exceed 1% of the total amount of the issuance of the respective bond. Notwithstanding the foregoing, the fee charged by the Commission shall not exceed $10,000 per issue for a single-project issue, or $10,000 per project in the case of program financing under I.C. 36-7-12-18.5.
(C) Any funds collected pursuant to this § 37.44
shall be used to compensate and reimburse the Commission for expenses associated with the issuance of bonds under I.C. 36-7-12 et seq., including, without limitation, payment of per diem fees payable to the Commission, costs of operation, and other expenses or economic development projects, according to the discretion of the Board of Commissioners of Warrick County.
(D) Nothing in this § 37.44 shall be construed as to authorize the Warrick County Economic Development Commission to charge a fee to be paid to the Commission to cover its costs of operation in the issuing of bonds which represent a general obligation of Warrick County or are payable in any manner from revenues raised by taxation.
(BC Ord. 2019-20, passed 9-9-19)