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INITIAL RESOLUTION FOR THE ISSUANCE OF G

INITIAL RESOLUTION FOR THE ISSUANCE OF GENERAL OBLIGATION PARK FACILIITES BONDS, SERIES 2023A WHEREAS, pursuant to N.D.C.C. § 21-03-07, subdivision 11, the Park District of the City of Fargo (the “Park District”) may issue general obligation bonds of the Park District for the purpose of providing funds to acquire, lay out, and improve parks, swimming pools, buildings, playgrounds, public recreation areas, parkways, boulevards, and pleasure drives, and to acquire land for these purposes. BE IT RESOLVED by the governing body of the Park District of the City of Fargo, North Dakota, that it is necessary and expedient for the Park District of the City of Fargo to issue its General Obligation Park Facilities Bonds, Series 2023A (the “Bonds”) as hereinafter described: 1. The maximum amount of Bonds proposed to be issued is $34,000,000. 2. The purpose for which the Bonds are proposed to be issued is to (i) pay the cost of design and construction of Phase 2 of the sports facility, and (ii) pay the cost of issuing the Bonds. 3. The taxable valuation of all taxable property in the Park District is $7,520,355,500 for tax year 2022. 4. The total amount of outstanding general obligation indebtedness of the Park District is $40,825,000. 5. The Park District has previously issued General Obligation Bonds of the Park District for Phase 1 of the sports center in the amount of $44,000,000. The Park District has not previously issued General Obligaton Bonds for Phase 2 of the sports center. 6. The issuance of the Bonds may be in one or more series. BE IT FURTHER RESOLVED, that any owner of taxable property within the Park District of the City of Fargo may within sixty (60) calendar days after publication of this Initial Resolution file with the Park District Clerk a protest against the adoption of this Initial Resolution. Protests must be in writing and must describe the property which is subject of the protest. The address of the Park District Clerk is 701 Main Avenue, Fargo, North Dakota 58103. The governing body of the Park District of the City of Fargo shall meet after the sixty (60) calendar day period to determine the sufficiency of any protests so filed and to take any such further action with respect to this Initial Resolution as they deem necessary and expedient. BE IT FURTHER RESOLVED, that the Park District Clerk is hereby authorized and directed to cause this Resolution to be published in the official newspaper of the Park District. Dated August 2, 2022. APPROVED: Dawn Morgan President of the Board of Park Commissioners ATTEST: Dave Leker Park District Clerk (Aug. 3, 2022) 87679