3. MIDA Bond/NDSU - Laserfiche WebLink

NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF UNIVERSITY FACILITIES REVENUE BONDS UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT OF 1955 (NDSU DEVELOPMENT FOUNDATION PROJECT) NOTICE IS HEREBY GIVEN that the Board of County Commissioners ofCass County, North Dakota, will meet on December 5,2005, beginning at 3:30 p.m. in the County Commission Room, Cass County Courthouse, Fargo, North Dakota, for the purpose of holding a public hearing on a proposal that the County issue revenue bonds under the Municipal Industrial Development Act of 1955, Chapter 40-57, N.D.C.C., in order to finance the project described below. The Project consists of the construction and equipping of office space, locker rooms and meeting rooms and related facilities located in the Fargodome, 1800 N. University, Fargo, North Dakota (the "Project"). The Project will be owned by the North Dakota State University Development Foundation, a North Dakota nonprofit corporation. The amount of the proposed bond issue is not to exceed $3,500,000. The bonds shall be limited obligations of the County payable solely from the revenue pledged to the payment thereof. No holder of any such bonds shall ever have the right to compel any exercise of the taxing power of the County to pay the bonds, or the interest thereon, nor to enforce payment against any property of the County except the Project secured thereby. North Dakota State University Development Foundation is engaged in fund raising and other activities which support North Dakota State University, including financing certain facilities for use by NDSU, and competitors are hereby notified of that fact pursuant to Chapter 40-57, N.D.C.C. All persons interested may appear and be heard at the time and place set forth above or may submit their views in writing before the time specified for the public hearing. Dated: November _ & _, 2005. BY THE ORDER OF THE BOARD OF COUNTY COMMISSIONERS