Senate Majority Leader likes a proposal to use Legacy Fund for infrastructure loans

Mar 9, 2018

North Dakota's Senate Majority Leader likes the idea of using the Legacy Fund for low interest loans to cities and counties for infrastructure.

Two Minot lawmakers -- State Representative Roscoe Streyle (R) and State Senator David Hogue (R) have drafted a bill for the 2019 session to allow that. And Fargo Mayor Tim Mahoney had suggested the idea as a source for capital to build the Red River Valley Water Supply Project – to bring Missouri River water to the Valley during droughts.

This would not be a grant program -- local governments could borrow money at a low interest rate.

Senate Majority leader Rich Wardner (R-Dickinson) believes the idea has merit. He said it might help speed up some infrastructure projects.

"People need to remember there are infrastructure things that have to be done," Wardner said. "And the longer you wait, the more they cost."

Wardner said if these projects could be done more quickly, it will save a lot of time and money.

Wardner said he’s glad the two Minot lawmakers have decided to start the discussions now – so that the bill could be adjusted if need be before it’s introduced.