DISTRICT COURT APPROVES SID#1 BOND ISSUE and sets date for Assessment Appeal

Post date: Jan 04, 2010 11:40:34 PM

Despite the last minute faxed attempt of Attorney Terry Barber's clients/Interested Parties(#) to dismiss the SID's petition filed in the Gosper County District Court, District Judge James Doyle signed the attached DECREE granting that the SID may issue its general obligation bond in the manner and form and in the total principal amount of $3,110,000.00, payable and bearing interest, all as set out in the Resolution adopted by the Board of Trustees dated November 20, 2009.

Special assessments levied against the property specially benefited by improvements of the District and the annual taxes collected by a tax by valuation on all taxable property in the District will be held as described in a Bond sinking fund used to pay interest and principal of this bond and the NDEQ CW-SRF Note that funded the majority of the project as they become due.

In the matter of the Appeal of their assessments by the same Attorney Barber clients/Interested Parties(#), the Judge set a hearing date of February 16th, 2010 at 9:00 a.m. in the Dawson County District Court for trying this case; with a fast paced schedule for preparatory discovery, filings, motions etc.

(#)The nine clients/Interested Persons listed by Attorney Barber included: Karen Brown, Trustee and her Successors in Trust; William R Harris; Connie Joy Van Wie, Trustee of the Connie Van Wie Fist Amended and Restated Revised Trust; Graupner, Sands & Barber, a Nebraska partnership; GF&B Family, LLC, a Nebraska limited liability company; Ralph D and Lois M Niemoth, Co-Trustees of the Trust dated August 13, 2001; Glen R and Teresa J Lanman; Gary R Neff; and Douglas M and LuAnn Everson