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<br />NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF <br />SCHOOL FACILITIES REVENUE BONDS UNDER THE <br />MUNICIPAL INDUSTRIAL DEVELOPMENT ACT OF 1955 <br />(SISTERS OF THE PRESENTATION BVM PROJECT) <br /> <br />NOTICE IS HEREBY GIVEN that the Board of County Commissioners of <br />Cass County, North Dakota, will meet on October 16, 2006, beginning at 3:30 p.m. in the <br />County Commission Room, Cass County Courthouse, Fargo, North Dakota, for the <br />purpose of holding a pub lie hearing on a proposal that the County issue revenue bonds <br />under the Municipal Industrial Development Aet of 1955, Chapter 40-57, N.D.C.C., in <br />order to finance the project deseribed below. <br /> <br />The Projeet eonsists of the renovation and equipping of a six-unit multifamily <br />housing faeility located at 1120 30th Avenue South, Fargo, North Dakota (the "Project"). <br />The Project will be owned by Sisters of the Presentation of the Blessed Virgin Mary, <br />Fargo, a North Dakota nonprofit corporation and will be leased to YWCA Cass Clay, a <br />North Dakota nonprofit corporation for use in its transitional housing program. The <br />amount of the proposed bond issue is not to exeeed $450,000. <br /> <br />The bonds shall be limited obligations of the County payable solely from the <br />revenue pledged to the payment thereof. No holder of any sueh bonds shall ever have the <br />right to eompe1 any exercise of the taxing power of the County to pay the bonds, or the <br />interest thereon, nor to enforce payment against any property of the County exeept the <br />Projeet secured thereby. <br /> <br />Sisters of the Presentation of the Blessed Virgin Mary, Fargo is engaged in <br />religious, edueational and eharitable aetivities including providing housing assistanee for <br />low ineome individuals and owning multifamily housing facilities and eompetitors are <br />hereby notified of that fact pursuant to Chapter 40-57, N.D.C.C. All persons interested <br />may appear and be heard at the time and plaee set forth above or may submit their views <br />in writing before the time speeified for the public hearing. <br /> <br />Dated: September _ & October _, 2006. <br /> <br />BY THE ORDER OF THE BOARD OF <br />COUNTY COMMISSIONERS <br />