Published February 19, 2010, 11:19 AM
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.
Rail panel closes book on ethanol loan default
PIERRE — 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
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