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<br />CASSCOUNlY <br />GOVERNMENT <br />..a.. <br /> <br />Auditor <br /> <br />Michael Montiplaisir, CPA <br />701-241-5601 <br /> <br />Treasurer <br /> <br />Charlotte Sandvik <br />701-241-5611 <br /> <br />Director of <br />Equalization <br /> <br />Frank Klein <br />701-241-5616 <br /> <br />Box 2806 <br />211 Ninth Street South <br />Fargo, North Dakota 58103 <br /> <br />Fax 701-241-5728 <br /> <br />W\\w.casscountygov.com <br /> <br />REGEIVEL, <br /> <br />APR 2 8 2005 <br /> <br />CASS COlJNlY COMMISSION <br /> <br />April 28, 2005 <br /> <br />Board of County Commissiorers <br />Cass County Courthouse <br />Fargo ND 58103 <br /> <br />Re: Financing of the Vector Control Building <br /> <br />Dear Commissioners: <br /> <br />The Vector Control Building Committee met on Wednesday, April2i\ and is <br />recommending the county finance the vector buildings utilizing a capital lease <br />program. The recommended lease would be eight years in length; and at the end of <br />the lease, the county would own the building. Of the project cost of $1 ,000,000, <br />the committee would propose the Vector Board and the County Road Department <br />use current funds to pay $100,000 of the costs and the remaining $900,000 would <br />be financed through the lease. <br /> <br />A schedule showing the potential lease payments and costs in mills to both the <br />Vector Board and County Road Department is attached. The actual interest rate on <br />the lease would be determined when the county commits to the lease. <br /> <br />Sincerely, <br /> <br />A' "I!;(;" "...1 <br />>~ . ..i',.._ '" "/ <br /> <br />([1- tv.... ! ~.~~~{ L~ <br /> <br />Michael Montplaisir, CPA <br />County Auditor <br /> <br />SUGGESTED MOTION: <br />Move to approve obtaining a capital lease for $900,000 for the construction of an <br />addition to the County Highway Shop and for a chemical storage building on the <br />County Highway grounds. <br />