1. MIDA bond application-YMCA - Laserfiche WebLink

RECEIVED MAR 7 2002 CASS COUNT"( COMMISSION JON M, ARNTSON* JAMES H. STEWART** March 7, 2002 ARNTSON & STEWAR% P.C. Attorneys at Law 51 Broadway, Suite 603 RO. Box 789 Fargo, North Dakota 5810%0789 Telephone 701-280-0195 Telecopier 701-280-1403 ALSO LICENSEDIN 'MINNESOTA "OREGON Ms. Joyce Schepp Secretary Board of Commissioners P.O. Box 2806 Fargo, North Dakota 58108 Re: Cass County, North Dakota Community Improvment Revenue Bonds (Fargo-Moorhead Family YMCA Project) Series 2002 Dear Joyce: Pursuant to our telephone conversation, I am enclosing the following documents in connection with the above-referenced bond issue: 1. Cass County MIDA Bond Application Form and a check for $1,000; 2. Preliminary Resolution and Notice of Public Heating (4 copies). Please place the Resolution on the agenda for the March 18 County Commission meeting. If the resolution is adopted, I would appreciate receiving three signed copies for transcript purposes. The remaining copy may be filed with the minutes of the meeting. Our office will take care of publishing the Notice of Public Hearing. The maximum amount set forth in the Resolution and Notice of Hearing is $3,800,000. The YMCA estimates the actual issue to be $3,750,000 and requests that the bonds be designated a "qualified tax- erupt obhgatlons under Section 265(b)(3) of the Internal Revenue Code. We understand that because of certain other pending bond issues, the amount of bonds issued on behalf of the YMCA during 2002 may need to he reduced. Sincerely, ARNTSON & STEWART, P.C. Attorney at Law JHS/mkl Enclosure cc: Paul Finstad (w/enc.) SUGGESTED MOTION: Move to adopt resolution relating to a project under the Municipal Industrial Development Act for the Fargo-Moorhead Family YMCA, giving the project preliminary approval subject to a public hearing to be held at a regular meeting of the Board of Cass County Commissioners beginning at 3:30 PM on April 15, 2002, in the County Commission Room, Cass County Courthouse, Fargo, ND.