06-04-2007 - Laserfiche WebLink

Commission Minutes-June 4,2007 3209 6. RESOLUTION #2007-11, MIDA Bond application of Tharaldson Ethanol Plant I LLC Attorney James Stewart was present for the MIDA Bond hearing on the application of the Tharaldson Ethanol Plant I LLC for an amount not to exceed $102,000,000 for the purpose of financing solid waste disposal components of a 100 million gallon per year ethanol production facility located west of Casselton, North Dakota. Mr. Stewart said solid waste disposal bonds like this request are not designated as qualified tax exempt obligations and do not count against the $10,000,000 limit. The county has no liability on payment of the bonds. Russ Newman, Vice President of Development for Tharaldson Ethanol Plant I, LLC, was also present. Mr. Pawluk asked about the solid waste disposal process. Mr. Stewart said the waste in its original form is wet, difficult to haul, and has no market value. The plant will convert it into cattle feed. Mr. Bennett asked about the magnitude of waste that will be handled by the plant. Mr. Newman said about 350,000 tons per year will be converted to cattle and poultry feed. Mr. Pawluk asked about the county's bond rating if the business defaults on the loan. Mr. Stewart and State's Attorney Birch Burdick said the bonds include a statement that the county will not be held liable for payment of the loan. Mr. Stewart said the county's bond rating will not be affected. The chairman opened the public hearing and invited comments from the audience. Hearing none, the public hearing was closed. MOTION, passed Mr. Pawluk moved and Mrs. Sorum seconded to adopt a Resolution Authorizing the Issuance of Solid Waste Disposal Revenue Bonds (Tharaldson Ethanol Plant I, LLC Project) Under Chapter 40-57 N.D.C.C. and Authorizing the Preparation of Necessary Documents Therefore. On roll call vote, the motion carried unanimously. 7. ROAD DEPARTMENT, Chrisan Glen riverbank slide issues Keith Berndt, County Engineer, was present. He referred to a letter sent to the commission last month from Stephanie Thorpe, who lives at 7504 Chrisan Way, which is south of Fargo along the Red River. The home is located on the outside bend of the river and bank erosion near a drainage swale and bank slumping have been ongoing issues for several years. The county acquired flood buyout land adjacent to the Thorpe property and installed rip rap on the slope of the swale to reduce erosion. The rip rap was not placed all the way to the river because a large number of trees would need to be removed, possibly causing more bank instability. Mr. Berndt said last fall, Ms. Thorpe discussed her concerns with the Southeast Cass Water Resource District, who developed a project to close the inlet at her property and install a new river inlet at another location on county-owned property. He said Southeast Cass and the City of Fargo have been working together to develop options for the South Side Flood Protection Plan and he suggested the water resource district not proceed with the Thorpe pro~ect until a decision is made on the plan sometime this summer. The property is near 76t Avenue South and Highway 81 and he said one of the study's options is to install storm drains on 76th Avenue South and Highway 81. He is not recommending any action by the board at this time.