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Charles Mix County board approves memorandum to enable revenue bonds for proposed Platte ethanol plant
Summary
Commissioners adopted a resolution authorizing a Memorandum of Agreement with Progressive Energies, LLC, signaling county willingness to act as conduit for up to $20 million in revenue bonds to finance an ethanol plant project; the agreement requires later bond terms, matching approvals and a lease or purchase agreement with the company.
The Charles Mix County Board of Commissioners voted Sept. 3 to approve a resolution authorizing execution of a Memorandum of Agreement with Progressive Energies, LLC, laying groundwork for the possible issuance of revenue bonds to finance an ethanol‑plant project in the Platte area.
Under the action, the county said it would issue one or more series of revenue bonds under South Dakota law to finance project costs currently estimated not to exceed $20 million, and authorized county officials to execute the memorandum that describes mutual commitments. The company agreed to pursue purchasers for the bonds and to enter, when required, a…
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