1. MIDA Bond Hospice of Red River Valley

RESOLUTION AUTHORIZING THE ISSUANCE OF MORTGAGE REVENUE BONDS (HOSPICE OF THE RED RIVER VALLEY PROJECT) UNDER CHAPTER 40-57 N.D.C.C. AND AUTHORIZING THE PREPARATION OF NECESSARY DOCUMENTS THEREFOR BE IT RESOLVED by the Board of County Commissioners of Cass County, North Dakota (lhe "County"), as follows: This Board, by Resolution duly adopted on January 2,2007, called a public hearing on a proposal that the County issue revenue bonds under the Municipal Industrial Development Act of 1955, North Dakota Century Code, Chapter 40-57, in order to finance the hereinafter described Project, the amount of the Bond issue being $2,600,000, or such lesser amount as is necessary to finance the acquisition of the Project. Section I. Policv and Puroose. 1.01. For the purpose of promoting, attracting, encouraging, and developing an 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, to issue revenue bonds of the County and to loan the proceeds to nonprofit corporations to provide financing for the acquisition and construction of revenue producing facilities. 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 an amount not to exceed $2,600,000, for the purpose of financing the acquisition of an office building located at 1701 38'h Street SW, Fargo, North Dakota (the "Project"). Section 2. Findings. 2.01. A public notice setting forth the nature of the Projecl and lhe dale and time of a public hearing on the Project was published according to law, and the public hearing has been held according to law. 2.02. Following the public hearing, it appears the issuance of the Bonds to finance the Project is in the public interest and any competitive nature and impact and effecl of the issue upon existing industry and business will not resull in an unfair advantage for the proposed Project to the substantial detriment of existing enterprises.