California Debt and Investment Advisory Commission

Reporting Fee Schedule
Date of Adoption: June 10, 2008
Effective July 1, 2008

Pursuant to Section 8856 of the California Government Code, the California Debt and Investment Advisory Commission (CDIAC) adopted the following two-phased fee schedule effective upon adoption.

1. Issues Purchased by Agencies of the Federal Government: No fee shall be charged on any issue purchased by an agency of the Federal Government.
2. Issues of Less Than $1,000,000: No fee shall be charged to the lead underwriter or purchaser of any public debt issue which has a par value amount less than one million dollars ($1,000,000), regardless of the term of the issue.
3. Issues with Short-Term Maturities: Notwithstanding Sections 1 and 2 above, the lead underwriter or purchaser of any public debt issue which has a maturity of eighteen (18) months or less, including those issues sold in a pooled financing (e.g., a TRANs pool), shall be required to pay a fee to the California Debt and Investment Advisory Commission in accordance with the following schedule:
   1. For such issues sold on July 1, 2008 through June 30, 2010, the fee will be equal to one hundred and fifty dollars ($150).
   2. For such issues sold on or after July 1, 2010, the fee will be equal to two hundred dollars ($200).
4. Issues with Long-Term Maturities: Notwithstanding Sections 1, 2, and 3 above, the lead underwriter or purchaser of any public debt issue which has a final maturity greater than eighteen (18) months shall be required to pay a fee to the California Debt and Investment Advisory Commission in accordance with the following fee schedule:
   1. For such issues sold on July 1, 2008 through June 30, 2010, the fee will be equal to 1.5 basis points (0.00015) not to exceed three thousand dollars ($3,000).
   2. For such issues sold on or after July 1, 2010, the fee will be equal to 2.0 basis points (.0002) not to exceed four thousand dollars ($4,000).
5. Marks-Roos Financing Authority Issues: One fee will be assessed for Marks-Roos Financing Authority bond issues where the bond sales occur simultaneously (i.e., reports filed with the Commission are received on the same date, financings are sold on the same date, and with the same financing team).
6. All Proposed and Final Sales to be Reported to the California Debt and Investment Advisory Commission: Nothing in this fee schedule shall relieve an issuer from giving written notice of a proposed debt issue no later than 30 days prior to the proposed sale, or to give final sale information within 45 days of the sale, to the California Debt and Investment Advisory Commission as required by Sections 8855(k) and (l) of the California Government Code.