MIAMI-DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 

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About IDA

Mission

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Sources of Financing

Issuance Costs

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ISSUANCE COSTS


Issuance costs will vary depending on the structure and complexity of the bond issue but most will typically include bond counsel and local and lender’s counsel’s fees, underwriting discount or lender’s commitment fees, issuing agency financing fee, bond and official statement printing costs (if required), trustee’s fees, title insurance, credit enhancement fees and other miscellaneous expenses.  The total of bond issuance costs may range from 4% to 10% of the bond issue size.  A more definitive estimate of issuance costs can be made as the parameters of the issue become known.  The aggregate of issuance costs not to exceed 2% of the total bond issue may be financed from bond proceeds.  The balance over 2% must be financed by the borrower from other conventional sources.