360.095. Initial planning service fee, amount of, how determined--proration of fee, when. - Missouri Statutes

Initial planning service fee, amount of, how determined--proration offee, when.

360.095. 1. When an application is made to the authority byany health institution or educational institution for financialassistance, the application shall be accompanied by an "initialplanning service fee" in an amount determined by the authority,but in no event exceeding the lesser of ten thousand dollars orone-fourth of one percent of the principal amount of bondscontemplated to be issued pursuant to the application. Theinitial planning service fee shall be included in the cost of thefacilities to be financed and shall not be refundable by theauthority whether or not such application is approved. Inaddition to the foregoing, the authority may require eachparticipating health institution and each participatingeducational institution to pay directly, or as part of the costof the acquisition of any facility or facilities, an additionalannual service fee in an amount which shall be fixed from time totime by the authority, but which shall not exceed one-tenth ofone percent of the principal amount of any bonds issued by theauthority and then outstanding on behalf of any such institution.The additional annual service fee shall be paid in suchinstallments as shall be fixed by the authority. It isanticipated that the fees shall be used for necessaryadministrative expenses and for necessary expenses incurred indetermining the need for facilities in the area concerned, and,to that end, the authority may utilize recognized voluntary andofficial health planning and educational planning organizationsand agencies at local, regional, and state levels as well as thestate statutory bodies having health or educational facilitiesplanning responsibilities.

2. In the event bonds are issued by the authority for theconcurrent benefit of two or more participating healthinstitutions or two or more participating educationalinstitutions, the fees to be paid to the authority under thissection shall be prorated among the institutions involved inaccordance with the amount of bond proceeds allocated to eachparticipating institution.

(L. 1975 H.B. 70 § 17)