2. MIDA Bond-Tharaldson Ethanol - Laserfiche WebLink

RESOLUTION APPROVING THE ISSUANCE OF SOLID WASTE DISPOSAL REVENUE BONDS (THARALDSON ETHANOL PLANT I, L.L.C. PROJECT) SERIES 2007 BE IT RESOLVED by the Board of County Commissioners ofCass County, North Dakota, as follows: RECITALS: I. Cass County, North Dakota (the "County") is authorized pursuant to Chapter 40-57 of the North Dakota Century Code (the "Act") to issue its revenue bonds for the purpose of providing financing for the construction, acquisition and installation of equipment and buildings to be used in connection with processing agricultural products, abatement or control of environmental pollution and functionally related facilities. 2. Tharaldson Ethanol Plant I, L.L.C., a North Dakota limited liability company (the "Company"), has applied to the County to issue and sell its revenue bonds pursuant to the Act for the purpose of providing financing for equipment and fixtures to be used in connection with solid waste disposal and functionally related facilities in connection with an ethanol plant located west of Casselton, North Dakota (the "Project"). 3. The County Commission has, on June 4, 2007, held a public hearing regarding the issuance of revenue bonds to finance the Project, following duly published notice thereof, and all persons desiring to be heard were heard. 4. The Governor of the State of North Dakota has allocated $58,000,000 of the State's authority to issue private activity bonds to the County for the Project. 5. Drafts of the following documents have been submitted to the County Commission and are on file with the County Auditor: ( a) Loan Agreement dated as of November 1, 2007 between the County and the Company (the "Loan Agreement"); (b) Indenture of Trust dated as of November 1, 2007 (the "Indenture"), between the County and U.S. Bank National Association, as trustee (the "Trustee"); (c) Bond Purchase Agreement among the County, the Company and Dougherty & Company LLC (the "Bond Purchase Agreement"). - 1 -