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Published July 23, 2010, 01:28 PM

ND regulators plan hearing on canola plant bond

BISMARCK, N.D. (AP) — A former Northwood canola processing plant wants to reopen, and it's looking for advice from the North Dakota Public Service Commission.

BISMARCK, N.D. (AP) — A former Northwood canola processing plant wants to reopen, and it's looking for advice from the North Dakota Public Service Commission.

Northwood Mills went broke last year and left more than $800,000 in unpaid bills. It wants to reopen under a different name, and it will need bond coverage. The company is asking North Dakota regulators how big its bond should be.

Normally the bond would be $50,000, but Commission Chairman Kevin Cramer says that's "grossly inadequate."

The commission has scheduled an Aug. 31 hearing in Grand Forks on whether the company should be issued a new license to store grain. Commissioner Brian Kalk says he wants to hear opinions from the community on the issue.

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