2. MIDA Bond-Bethany on 42nd - Laserfiche WebLink

NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF SENIOR HOUSING REVENUE BONDS UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT OF 1955 (BETHANY ON 42ND PROJECT) NOTICE IS HEREBY GIVEN that the Board of County Commissioners ofCass County, North Dakota, will meet on Apri121, 2008, beginning at 3: 30 p.m. in the County Commission Room, Cass County Courthouse, Fargo, North Dakota, for the purpose of holding a public hearing on a proposal that the County issue revenue bonds under the Municipal Industrial Development Act of 1955, Chapter 40-57, N.D.C.C., in order to finance the project described below. The Project consists ofthe construction and equipping of senior housing facilities consisting of approximately 78 skilled nursing beds, 40 assisted living units and functionally related and subordinate facilities located at 2955 42nd Street South, Fargo, North Dakota (the "Project"). The Project will be owned and operated by Bethany on 42nd, LLC, a North Dakota limited liability company, the sole member of which is Bethany Homes, Inc. The amount of the proposed bond issue is not to exceed $25,000,000. The bonds shall be limited obligations ofthe County payable solely from the revenue pledged to the payment thereof, and may be secured by a mortgage or other encumbrances on the Project. No holder of any such bonds shall ever have the right to compel any exercise ofthe taxing power of the County to pay the bonds, or the interest thereon, nor to enforce payment against any property of the County. Bethany on 42nd, LLC will be engaged in the business of operating a skilled nursing, assisted living facilities and related elderly living facilities, and competitors are hereby notified of that fact pursuant to Chapter 40-57, N.D. C. C. All persons interested may appear and be heard at the time and place set forth above or may submit their views in writing before the time specified for the public hearing. Dated: March _ & _ ,2008. BY THE ORDER OF THE BOARD OF COUNTY COMMISSIONERS