What are the costs of issuance that may be financed by my permanent loan? What are the costs of issuance that must be paid by my community?
The borrower may elect to finance the costs of issuance incurred by the Trust that are allocated pro-rata to each borrower receiving permanent financing from the Trust’s issuance of bonds, provided that the borrower has sufficient local borrowing authorization to add these costs to its loan amount. The borrower may also pay these costs directly to the Trust, but the Trust must receive these monies from the borrower at the time of the closing of the borrower’s permanent loan. The borrower must pay out-of-pocket the costs associated with procuring legal and financial advisory services provided on the borrower’s behalf. These types of costs are also not considered to be eligible project costs.
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