1. MIDA Bond Sisters of the Presentation

ARNTSON & STEWART, P.C. Attorneys at Law 51 Broadway, Suite 603 P.O. Bux 789 Fargo, North Dakota 5X 107-07lol9 JON M. ARNTSON' JAMES H. STEWARr* Telephone 701-nO-OI95 TcleCLlpicr 701-280-1403 RECEIVED SEP nn 820061 ALSO LICENSED IN *MINNESOTA uOREGON September 7, 2006 CASS COUNTY COMMISSION Ms. Heather Worden Administrative Secretary Board of Commissioners P.O. Box 2806 Fargo, North Dakota 58108 Re: Cass County, North Dakota Multifamily Housing Revenue Bonds (Sisters of the Presentation BYM Project), Series 2006 Dear J leather: Pursuant to our telephone conversation, I am enclosing the following documents in connection with the above-referenced bond issue: I. Cass County MIDA Bond Application Form and a check for $1 ,000; 2. Preliminary Resolution and Notice of Hearing (4 copies). Please place the Resolution on the agenda for the September 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 Sisters of the Presentation BYM will ask the County to designate the bonds as "qualified tax- exempt obligations" under Section 265(b)(3) of the Internal Revenue Code. I understand the County has the capacity to make such a designation under the $10,000,000 limit for bank qualified bonds during the current calendar year. Sincerely, ARNTSON & STEWART, P.C. Ja~wart Attorney at Law Enclosure SUGGESTED MOTION: Move to adopt Reso!u~ion Relating to a Project under the Municipal Industrial Dev~lopm~nt Act, GIving the Project Preliminary Approval, Subject to a Publi Heanng (Sisters of the Presentation BVM Project). c