Dickinson County Board of Supervisors

March 31, 2009

Present are Supervisors Paul Johnson, Wayne Northey, and David Gottsche, Chairperson. Absent are Mardi Allen and Pam Jordan.

The Pledge of Allegiance was recited to open the meeting.

The Board of Supervisors of Dickinson County, State of Iowa, met in special session, in the Dickinson County Courthouse, 1802 Hill Avenue, Suite 1500, Spirit Lake, Iowa, at 11:30 a.m. on the above date. There were present Chairperson David Gottsche, in the chair, and the following named Board Members: Wayne Northey, Paul Johnson. Absent: Mardi Allen, Pam Jordan

Board Member Northey introduced the following resolution entitled “RESOLUTION APPOINTING BANKERS TRUST COMPANY, N.A. OF DES MOINES, IOWA, TO SERVE AS PAYING AGENT, BOND REGISTRAR, AND TRANSFER AGENT, APPROVING THE PAYING AGENT AND BOND REGISTRAR AND TRANSFER AGENT AGREEMENT AND AUTHORIZING THE EXECUTION OF THE AGREEMENT”, and moved that the resolution be adopted. Board Member Johnson seconded the motion to adopt. The roll was called and the vote was,

AYES: Northey, Johnson, Gottsche

NAYS: None

Whereupon, the Chairperson declared the resolution duly adopted as follows:

RESOLUTION APPOINTING BANKERS TRUST COMPANY, N.A. OF DES MOINES, IOWA, TO SERVE AS PAYING AGENT, BOND REGISTRAR, AND TRANSFER AGENT, APPROVING THE PAYING AGENT AND BOND REGISTRAR AND TRANSFER AGENT AGREEMENT AND AUTHORIZING THE EXECUTION OF THE AGREEMENT.

WHEREAS, pursuant to the provisions of Chapter 75 of the Code of Iowa, $700,000 General Obligation Bonds, Series 2009C, dated April 1, 2009, have been sold at public sale and action should now be taken to provide for the maintenance of records, registration of certificates and payment of principal and interest in connection with the issuance of the bonds; and

WHEREAS, this Board has deemed that the services offered by Bankers Trust Company, N.A. of Des Moines, Iowa, are necessary for compliance with rules, regulations, and requirements governing the registration, transfer and payment of registered bonds; and

WHEREAS, a Paying Agent, Bond Registrar and Transfer Agent Agreement (hereafter “Agreement”) has been prepared to be entered into between the County and Bankers Trust Company, N.A.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF DICKINSON COUNTY, STATE OF IOWA:

Section 1. That Bankers Trust Company, N.A. of Des Moines, Iowa, is hereby appointed to serve as Paying Agent, Bond Registrar and transfer Agent in connection with the issuance of $700,000 General Obligation Bonds, Series 2009C, dated April 1, 2009.

Section 2. That the Agreement with Bankers Trust Company, N.A. of Des Moines, Iowa is hereby approved and that the Chairperson and Auditor are authorized to sign the Agreement on behalf of the County.

PASSES AND APPROVED THIS 31^ST DAY OF MARCH, 2009.

Board Member Johnson moved that the form of Tax Exemption Certificate be placed on file and approved. Board Member Northey seconded the motion. The roll was called and the vote was,

AYES: Northey, Johnson, Gottsche

NAYS: None

Board Member Northey moved that the form of Continuing Disclosure Certificate be placed on file and approved. Board Member Johnson seconded the motion. The roll was called and the vote was,

AYES: Northey, Johnson, Gottsche

NAYS: None

Board Member Johnson introduced the following Resolution entitled “RESOLUTION AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES 2009C, IN THE AMOUNT OF $700,000 AND LEVYING A TAX FOR THE PAYMENT THEREOF”, and moved its adoption. Board Member Northey seconded the motion to adopt. The roll was called and the vote was:

AYES: Northey, Johnson, Gottsche

NAYS: None

Whereupon, the Chairperson declared the Resolution duly adopted as follows: RESOLUTION AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS, SERIES 2009C, IN THE AMOUNT OF $700,000 AND LEVYING A TAX FOR THE PAYMENT THEREOF.

There being no further items for business presented before the Board, it was moved by Northey, seconded by Johnson to adjourn. All voted aye.

____________________________________David Gottsche, Chairperson

____________________________________Nancy Reiman, Auditor