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Dickinson approves $5 million Bank of North Dakota loan to build Baylor Building
Summary
The commission authorized a $5 million solid-waste-revenue bond loan from the Bank of North Dakota at 2% interest over 20 years to fund construction of the Baylor Building, which will house city engineering, public works and finance staff.
The Dickinson City Commission unanimously approved a bond resolution on Nov. 4 to borrow $5,000,000 from the Bank of North Dakota through the Infrastructure Revolving Loan Fund to construct the Baylor Building, according to Senior Engineer Chris Keller.
Keller said the loan would be a 20‑year obligation with a 2% interest rate and a maturity date of Sept. 1, 2045. The proceeds are intended to fund construction of the Baylor Building, which will house city engineering, public works and finance functions. Staff recommended approval.
During the staff presentation a closing certificate included an incorrect commissioner name; Keller said bond counsel will update the certificate. The commission voted to approve Resolution 49‑2025; the motion carried unanimously.
