Associated Press, Published April 26 2011
North Dakota lawmakers reach plan for pipeline projectBISMARCK — North Dakota lawmakers want to use a patchwork of loans to pay for a $150 million water pipeline project in western North Dakota.
Negotiators from the House and Senate agreed on the plan Tuesday. It now goes to the full House and Senate for approval.
The Bank of North Dakota would loan $50 million and be repaid first. The state would lend $25 million from its general fund and $35 million from a separate trust fund.
The deal suggests the 2013 Legislature approve another $40 million loan to finish the project.
The state would earn 5 percent interest on most of its loans.
The pipeline would take water from the Missouri River near Williston and sell it to rural cities and oil companies.