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<br />MEMORANDUM <br /> <br />FROM: <br /> <br />John T. Shockley <br />September 20, 2007 <br /> <br /> <br />TO: <br /> <br />Cass County Commission <br /> <br />DATE: <br />RE: <br /> <br />Cass County Street Improvement District No. 2007-1 <br />$365,000 Refunding Improvement Bonds of 2007 <br /> <br />I . BACKGROUND <br /> <br />This summer, a group of residents from Granbergs and Amber Plains <br />Subdi visions approached the Cass County Engineer regarding the <br />possibility that Cass County would set up an assessment district <br />for street improvements within the subdivision. The improvements <br />consisted of six inches of asphalt to be placed upon the streets in <br />the subdivisions. The residents subsequently contacted a qualified <br />engineer, who proposed an engineer's report and estimate of the <br />cost of such project. Originally, the project cost was estimated <br />to be $470,000. The actual cost of the project is $365,000. <br /> <br />Subsequently, a petition was circulated among the residents <br />concerning the paving. The petition was approved overwhelmingly. <br />The Cass County Commission created the special assessment district, <br />authorized the plans and specifications, accepted plans and <br />specifications, and entered into a contract for the paving of the <br />streets. Stanley Township has approved the plans and <br />specifications of this proj ect. Previously, by letter dated <br />September 4, 2007, I indicated that the Cass County Commission may <br />proceed with the scheduled bond sale for this project on October 1, <br />2007. <br /> <br />I I . LEGAL BACKGROUND. <br /> <br />N.D.C.C. ~ 11-11-55.1 grants North Dakota counties the authority to <br />make improvements and to levy special assessments for those <br />improvements. Pursuant to Section 11-11-55.1, counties have the <br />authori ty to issue bonds to refund the costs the county has <br />incurred in the construction of a rural subdivision improvement, <br />This authority is provided in N,D.C.C. ~ 40-27-01. The County does <br />not need to hold an election because this proposed bond is to be <br />funded by special assessments. See N,D.C.C. ~ 40-27-02. <br /> <br />If the County Commission approves the bond sale, it will be <br />authorizing the sale of the bonds to cover the cost of the project. <br />The amount of the bond will be $365,000, The offers to buy the <br />bond will be made on October 1, 2007, Thus, the resolution that I <br />have attached is a proposed resolution, lacking all of the <br />