The Municipal Securities Approval Program is designed to encourage job creation through the expansion of the activities of 501(c)(3) organizations or manufacturers. This program provides borrowers with local access to tax-exempt bond financing and is ideally suited when the borrower proposes to arrange its own credit enhancement.
Any 501(c)(3) or manufacturer borrower proposing to use bond proceeds for the acquisition or construction of business assets or, as to 501(c)(3) borrowers, other purposes allowed by tax code.
Determined by the provider of credit enhancement and tax code. Generally up to $10,000,000 for for-profit enterprises and larger amounts for 501(c)(3) organizations and certain specialized projects.
Market tax-exempt rates. Pricing is determined by market conditions or credit provider at the time of bond sale.
Structured with provider of credit enhancement.
Assets being financed.
- Transaction fees not imposed by FAME are usually determined by the borrower’s investment bankers.
- Contact FAME for current FAME fee schedule.
Borrowers seeking financing must have a project that qualifies under the Internal Revenue Code.
Borrowers considering financing should contact FAME.
For best results, please download .pdf forms locally, then open and complete them with Adobe Acrobat. If you don’t have Acrobat, you can download a free version of Adobe Acrobat Reader here. Save and print your completed forms, then mail to FAME.