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Published May 07, 2012, 05:15 PM

Diversion Authority considering bonds to support project

Fargo-Moorhead (WDAY TV) - How would you like to buy a piece of the Red River Diversion? The finance committee of the Red River Diversion may consider the idea of offering bonds to investors as an additional funding source to pay for the nearly $2 billion project.

By: WDAY Staff Reports, WDAY

How would you like to buy a piece of the Red River Diversion? The finance committee of the Red River Diversion may consider the idea of offering bonds to investors as an additional funding source to pay for the nearly $2 billion project. Other projects in the area have used similar funding.

Pat Zavoral – Fargo City Administrator: “You can go out and buy a water bond for example when we built the water plant. You can buy a bond and they're privately placed and people go out and purchase them.”

To keep the project moving ahead, the diversion authority says spending will increase dramatically from where it is now and this could be one more tool to keep the money flowing.

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