1. MIDA Bond-Essentia Health - Laserfiche WebLink

Draft 1/18/08 JOINT POWERS AGREEMENT This Joint Powers Agreement ("Agreement"), dated as of March 1,2008, is entered into by and among Cass County (the "County") and the cities of Jamestown, Wahpeton and Valley City, North Dakota (together, the "Cities"), each a political subdivision duly organized and existing under the constitution and laws of the State of North Dakota (the "State"). RECITALS WHEREAS, North Dakota cities and counties are empowered by the Municipal Industrial Development Act of 1955, North Dakota Century Code, Chapter 40-57 (the "Act") to, among other things, 1) issue revenue bonds in anticipation of the collection of revenues of a project (as defined therein) to finance, in whole or in part, the cost of the project, whether then in existence or not and 2) enter into and perform such contracts and agreements with other municipalities and political subdivisions as the respective governing bodies of the same may deem proper and feasible for or concerning the financing of the project; and WHEREAS, North Dakota cities and counties are empowered by Section 10 of Article VII of the Constitution of North Dakota to enter into agreements, including those for cooperative or joint administration of any powers or functions, with any other political subdivision, unless otherwise provided by law or home rule charter; and WHEREAS, North Dakota cities and counties are empowered under Chapter 54-40.3 of the North Dakota Century Code (the "Joint Powers Act"), upon approval of their respective governing bodies, to enter into an agreement with any political subdivision of the State for the cooperative or joint administration of any power or function that is authorized by law or assigned to one or more of them; and WHEREAS, it has been proposed that the County issue revenue bonds to finance a Project, as hereinafter described, located in the County and the Cities; and WHEREAS, the bonds proposed to be issued shall not constitute an indebtedness or pledge the full faith and credit of the County, the Cities, or any other agency or political subdivision thereof, but shall be payable solely from the revenues pledged and assigned thereto pursuant to the Indenture (as defined below); and WHEREAS, the governing bodies of the County and the Cities have authorized the execution and delivery of this Agreement and consented to the issuance of revenue bonds as contemplated herein;