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Flood Diversion Board of Authority—March 13, 2014 4 <br />MOTION, passed <br />Mr. Walaker moved and Mr. Pawluk seconded that the Metro <br />Flood Diversion Authority authorize and appoint Carol Harbeke Lewis in her capacity as Secretary-Treasurer of the Cass County Joint Water Resource District, whose post office <br />address is 1201 Main Avenue West, West Fargo, North Dakota <br />58078-1301, and Dwight Hofland of The Pifer Group, Inc., whose <br />post office address is 1506 29th Avenue South, Moorhead, Minnesota 56560, in its capacity as Agent under the Agreement Between Owner and Agent for Farmland Management Services <br />as its representatives to execute all documents necessary on its <br />behalf for all FSA (Farm Services Agency), CCC (Commodity <br />Credit Corporation), and NRCS (Natural Resources Conservation Service) programs or any other program operated by the U.S. Department of Agriculture. Furthermore, each such <br />representative may exercise the authority and powers granted <br />independently of the other representative. Motion carried. <br /> Eric Dodds from AE2S said six different options for agricultural risk mitigation have been reviewed relating to crop insurance. He said most likely a combination of a <br />few of the options will be used. <br /> <br />CCJWRD update Mark Brodshaug said appraisal teams are working on a group of homes in Oxbow that will be purchased, and a draft appraisal on the Oxbow golf course is being <br />reviewed. <br /> <br />10. FINANCE UPDATE Committee report <br />Michael Montplaisir, Cass County Auditor, said the Finance Committee met on <br />March 12th. He said local funds have been used as the funding source and about <br />$8 million has been spent in 2014 with most of the dollars going toward land <br />purchases. The committee discussed financing options for the North Dakota local cost share. He said the PFM Group has drafted Request for Information (RFI) proposals that will be sent to local, regional and national banks for tax-exempt direct <br />funded loans. Another financing option that has been studied over the last year and <br />a half is creation of a special assessment district. <br /> Special Assessment District Financing Option <br />Mr. Brodshaug said the Cass County Joint Water Resource District (CCJWRD) <br />formed the Diversion Project Assessment Committee (DPAC) to study special <br />assessments as a financing option. <br /> Mr. Brodshaug discussed some factors regarding why special assessments are being considered including that financing will be required for the project; bonds <br />backed by sales tax financing have higher interest rates; an assessment district will <br />save taxpayers money; and an assessment district will provide a mechanism for <br />maintenance costs of the project.