1. MIDA bond-Essentia Health - Laserfiche WebLink

Section 2. Findings. 2.01. Based on representations of the Borrower, the County believes that the financing of the Project would assist in making available high quality health care services to the residents of the County and surrounding area. 2.02. The County is advised by representatives of the Borrower that the impact and effect of the Bonds upon existing industry and business in the County will not result in an unfair advantage for the Project to the substantial detriment of existing enterprises. Based on such advice and subject to the holding of a public hearing according to law, it appears the issuance of the Bonds will be in the public interest and any competitive nature and impact and effect of the Bonds upon existing industry and business will not result in an unfair advantage for the Project to the substantial detriment of existing enterprises. Section 3. Approval and Authorization. 3.01. Preliminary Approval. Subject to the holding of a public hearing according to law and subject to the mutual agreement of the County, the Borrower, the initial purchaser of the Bonds and other parties to the proposed transaction as to the details of a trust indenture, loan agreement and/or other documents necessary to evidence and effect the financing the Project and the issuance of the Bonds, the issuance of revenue bonds to finance the Project of the County, whether taxable or tax exempt, in one or more series, in an amount not to exceed $50,000,000 is hereby preliminarily approved and authorized. 3.02. No County Liability or Final Commitment. A. Neither this preliminary commitment nor any actions, agreements or legal matters related hereto or executed in pursuance hereof, shall in any manner or form create an indebtedness or liability of the County. B. The passage of this resolution does not finally commit the County to issue the Bonds nor, if applicable, establish priority for purposes of staying within the limitations (if any) established by federal law for the amount of private activity bonds that may be issued by the County or the State of North Dakota. Section 4. Public Hearing. 4.01. Hearing Scheduled. The Commissioners have been informed that a public hearing, after notice according to law, is required for final approval of the issuance of the Bonds. A public hearing on the issuance of the Bonds shall be held at the County Commission Room in the Cass County Courthouse, City of Fargo, North Dakota, on June 16, 2014, at 3:30 p.m., and the County Auditor or the County Auditor's designee is hereby instructed to give notice of such public hearing according to law. 4.02. Publication of Notice. Public notice in substantially the form attached to this Resolution as Exhibit A, together with such additions and deletions as the County Auditor shall approve after consultation with bond counsel, shall be published in the County's official newspaper as required by law, and bond counsel shall arrange for such publication. 2