Application and Fees

Applications which are complete and accurate will be promptly reviewed and acted upon by the Board of Directors. A non-refundable application fee must accompany a completed application upon submission.

Bond Fees

• Application Fee

A $2,000 non-refundable application fee is due when the application is submitted. Please make checks payable to the Upper Illinois River Valley Development Authority.

• Issuance Fee

  This service fee is 80 Basis Points (0.0080) x bond amount on Private Entities issues and 40 Basis Points (.0040) x bond amount on Government/Not-for-Profit Issues.

• Financial Advisor Fee

  A financial advisor fee is $5,000 and is required for all bond issues that have requested the enhancement of the moral obligation from the State of Illinois. The fee is to be paid at the time the UIRVDA board recommends that the financial advisor proceed with the financial evaluation required by the Office of the Governor. The fee increases to $7,000 at the 15 million dollar issue amount and $10,000 at the 25 million dollar issue amount.

• Annual Fee

  Annual fees are required for all bond issues that receive enhancement of the moral obligation from the State of Illinois. This fee is 40 Basis Points (.0040) x bond amount, are based upon the initial issue principal amount and will decline annually as the outstanding principal declines. Other misc. fees include cost of Authority Counsel.