Rail panel closes book on ethanol loan defaultPIERRE — Seven years after the Tri State Ethanol plant at Rosholt went into bankruptcy, the State Railroad Board decided Thursday to forego the remaining interest owed on a loan made to assist the project.
Board members voted 5-1 to declare the loan paid in full. The board has recovered the loan principal of $334,756 and received $11,237 in interest. There was $92,281 interest owed on the loan at the time of the 2003 bankruptcy filing.
By: Bob Mercer, Republic Capitol Bureau