2. MIDA Bond/Plains Art Museum - Laserfiche WebLink

CASS COUNTY MIDA BOND APPLICATION FORM 1. Name of applicant: Plains Art Museum 2. Telephone number of applicant: 232-3821 3. Size of issue requested: $2,000,000 4. Type of issue (check one): (a) Small issue - $1,000,000 [Section 144(a)] (b) Small issue - $10,000,000 [Section 144(a)(4)] (c) Qualified residential rental project [Section 142(a)(7)] (d) X Qualified 50 1 (c )(3) issue [Section 145] (e) X Refunding issue (f) Other (specify type): 5. If type of issue checked was small issue ($1,000,000 or $10,000,000), is issue for a manufacturing facility as defined in Section 144(a)(12)(C)? Yes No 6. If type of issue check was qualified residential rental project, will project meet the low income requirements for tenants as set out in Section 142( d)? Yes No 7. Estimated date of issue if approved by County: November 24,2005 8. Give a brief explanation ofproject, which explanation should include the location of the project, description of the use of the bond proceeds, and whether or not the project would create additional employment: Bond proceeds will be used to refund the outstanding Museum Facilities Revenue Bonds, Series 1996 (Plains Art Museum) (the "Series 1996 Bonds") issued by the City of Fargo. Proceeds of the Series 1996 Bonds were used to finance a portion of the cost of renovating a building located at 704 First Avenue North in Fargo for the Plains Art Museum. 9. Attached to the Application Form is a check in the amount of$1 ,000 which is the application fee, which fee is nonrefundable. If issue does close, the application fee shall be deducted from the issuance fee set out in paragraph 11. 10. Attached is a typed Initial Resolution giving project preliminary approval in substantially the form provided by the County Auditor's office. The Initial Resolution shall be placed on the County Commission agenda for a meeting determined by the County Auditor's office. No public hearing is required for refunding bonds. 11. The applicant understands that the issuance fee for a new MIDA bond issue is equal to 1 % of the first $1,000,000 of the Bond issue and that there is no fee beyond the first $1,000,000. For refunding bond issues the issuance fee is one-half of the amount set forth above. Dated: October ~ 2005. Plains Art Museum By: ~_e<P~ Its: Executive Director \