Travis County Commissioners Court
February 26, 2008
Cultural Education Facilities Finance Committee
Now let's call to order the Travis County cultural education facilities finance committee, facilities finance corporation. Two item, the first of which is to consider and take appropriate action on request to approve rengs letter to be provided to deloitte and touche, llp regarding fy 2007 annual financial audit. Move approval.
>> second.
>> discussion? All in favor? That passes by unanimous vote. Number 2 is to consider and take appropriate action on request by trinity higher education facilities corporation to waive all or a portion of the processing fee.
>> the processing fee was approved as an additional to our policy in August of 2007. It's $3,000. We have recommended lowering it to $1,500. The rationale is that this is a refinancing of existing bonds for the (indiscernible) bonds and issuing new bonds. It is not to build new facilities. It sort of correlates with our policy on the housing bonds where we charge an 11,000-dollar application fee on housing bonds, but if somebody is refunding those bonds, like in this case, the application fee is $5,500. And also the issuer fee is half on issuing the bond. So -- and in that sense I don't think it sets a precedent that somebody else could come with issuing new bonds and say, well, you lowered the processing fee for huston-tillotson, why don't you do it for us? So for that reason I think my opinion, $1,500 is an appropriate fee. And I’ve been informed that they would pay that fee.
>> move we follow staff's recommendation and reduce the fee to $1,500. Discussion? All in favor? That passes by unanimous vote.
>> move adjourn.
>> second.
>> all in favor? That passes by unanimous vote.
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Last Modified:
Wednesday, February 27, 2008 8:09 PM