1. MIDA Bond-Essentia Health - Laserfiche WebLink

County contained in the Loan Agreement, the Indenture, the Joint Powers Agreement and the Bond Purchase Agreement and of all other acts and things required under the Constitution and laws of the State of North Dakota to make the Bonds, the Loan Agreement, the Indenture, the Joint Powers Agreement and the Bond Purchase Agreement valid and binding obligations of the County enforceable in accordance with their terms, are authorized by the Act; (c) it is desirable that the Bonds in the amount of up to $145,000,000 be issued by the County upon the terms set forth herein, and that the County assign its interest in the Loan Agreement, except for certain retained rights, to the Trustee by the Indenture and grant a security interest therein for the payment of the principal of, interest on and premium, if any, on the Bonds; and (d) as will be provided in the Bonds, the Bonds are not to be payable from nor charged upon any funds of the County other than the revenue under the Loan Agreement pledged to the payment thereof; the County is not subject to any liability thereon; no Holder of the Bonds shall ever have the right to compel any exercise of the taxing power of the County to pay the Bonds or the interest or premium or late charges, if any, thereon, nor enforce payment thereof against any property of the County except the revenue under the Loan Agreement pledged to the payment thereof; the Bonds issued hereunder shall recite that the Bonds, including premium, if any, and interest thereon, are payable solely from the revenue under the Loan Agreement pledged to the payment thereof; and the Bonds shall not constitute a debt of the County within the meaning of any constitutional or statutory limitation of indebtedness. Section 3. Authorization and Sale 3.01. Authorization. The County is authorized by the Act to issue revenue bonds, to loan the proceeds thereof to the Borrower to finance and refinance the Project and to make all contracts, execute all instruments and do all things necessary or convenient in the exercise of such authority. 3.02. Public Hearing. The Commission held a duly noticed public hearing on the issuance of the Bonds on the date hereof, at which time all persons were given an opportunity to express their views with respect to the financing and refinancing of the Project by the County. 3.03. Approval of Documents. Pursuant to the above, there have been prepared and presented to this Commission forms of the Loan Agreement, the Indenture, the Joint Powers Agreement and the Bond Purchase Agreement, all of which are now, or shall be, placed on file in the office of the County Auditor. The forms of the Loan Agreement, the Indenture, the Joint Powers Agreement and the Bond Purchase Agreement are approved, with such variations, insertions and additions as are deemed appropriate by the parties and approved by the County Attorney and County Auditor. 3.04. Sale of Bonds to Underwriter. The sale of the Bonds to the Underwriter pursuant to the Bond Purchase Agreement is hereby approved. The County Auditor is hereby 4