NOTICE OF PUBLIC HEARING ON THE ISSUANCE

Published May 24, 2023 at 1:45 AM

NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF CHILDCARE FACILITY REVENUE BONDS UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT OF 1955 (YMCA OF CASS AND CLAY COUNTIES PROJECT) NOTICE IS HEREBY GIVEN that the City Council of Frontier, North Dakota will meet on June 12, 2023, beginning at 6:00 p.m. in the Community Center, 5622 35th Street South, Frontier, North Dakota, for the purpose of holding a public hearing on a proposal that the City 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 of the construction and equipping of a new one-story childcare facility to be located at 5107 30th Avenue South, Fargo, North Dakota (the “Project”). The Project will be owned and operated by the YMCA of Cass and Clay Counties, a North Dakota nonprofit corporation. The amount of the proposed bond issue is not to exceed $8,500,000. The bonds shall be limited obligations of the City payable solely from the revenue payable by YMCA of Cass and Clay Counties and 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 of the taxing power of the City to pay the bonds, or the interest thereon, nor to enforce payment against any property of the City. YMCA of Cass and Clay Counties is engaged in owning and operating exercise, fitness and childcare 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. BY ORDER OF THE CITY COUNCIL (May 17, 2023) 223691