1. MIDA Bond Hospice of Red River Valley

RESOLUTION RELATING TO A PROJECT UNDER THE MUNICIP AL INDUSTRIAL DEVELOPMENT ACT, GIVING THE PROJECT PRELIMINARY APPROVAL, SUBJECT TO A PUBLIC HEARING (HOSPICE OF THE RED RIVER VALLEY PROJECT) BE IT RESOLVED by the Board of County Commissioners ofCass County, North Dakota (the "County"), as follows: Section 1. Policy and Purpose. 1.01. For the purpose of promotion, attraction, encouragement, and development of economically sound commerce, preserving and developing a tax base adequate to finance necessary public services, and encouraging employment opportunities for the citizens of the County, the County is authorized by Chapter 40-57, North Dakota Century Code ("N.D.C.C."), to issue revenue bonds of the County and to loan the proceeds to nonprofit corporations to provide financing for the acquisition of real and personal property. 1.02. Hospice of the Red River Valley, a North Dakota nonprofit corporation, (the "Company") has requested the County to issue its Mortgage Revenue Bonds (Hospice of the Red River Valley Project) Series 2007 (the "Bonds") in the amount not to exceed $2,600,000 for the purpose of financing the acquisition of an office building located at 1701 38th Street SW, Fargo, North Dakota (the "Project"). Section 2. Approval and Authorization. 2.01. Subject to the holding of a public hearing according to law and subject to the mutual agreement of the County, the Company, and the purchaser of the Bonds as to the details of the Bonds, the loan agreement, and other documents necessary to evidence and effect the financing of the Project, the issuance of the Bonds of the County, in one or more series, in an amount not to exceed $2,600,000, is hereby approved. 2.02. Neither this preliminary commitment nor any actions, agreements, or legal matters related hereto or executed in pursuance hereof, shall in any manner or form create an indebtedness or liability of the County. The passage of this Resolution does not finally commit the County to issue and deliver the Bonds. Section 3. Public Hearing. 3.01. Because a public hearing. after notice according to law, is required for final approval of the Bonds, a public hearing on the issuance of the Bonds shall be held at the County Commission Room. Cass County Courthouse, Fargo, North Dakota at a regular meeting on February 5, 2007, beginning at 3 :30 P.M. and the County Auditor is hereby instructed to cause notice of such public hearing to be given according to law. - 1 - _''''-___jl~I.L P' .......'_'.~''''''''''''.,.r'''''\'''''''':b...'' ttftlli. l''R