Bismarck Tribune - Bismarck News - Funds approved for new Bank of N.D.

Funds approved for new Bank of N.D.

Apr 01, 2005 - 23:16:22 CST

By TOM RAFFERTY, Bismarck Tribune

The House approved a bill Friday with $11 million for a new building for the Bank of North Dakota.

The bank has very few windows, contains asbestos, mold, lead paint and does not meet fire codes, supporters say.

Rep. Blair Thoreson, R-Fargo, said the bank also has security issues.

"There is no secure place for them to do money transfers," Thoreson said.

The bill, which includes the budget for the Industrial Commission, passed 86-4. Before the final vote was taken on the bill, a separate vote was taken that, if passed, would have eliminated funding for the bank. That motion failed 19-70.

Rep. Al Carlson, R-Fargo, said he is against the process that was gone through to determine a new bank was needed because there were not enough checks and balances.

Carlson mocked the idea that the 85-year-old bank is in such poor shape that it needs replacement.

"With what we've heard, I think we better pass an immediate bill to evacuate everyone from the building because their lives are in danger," Carlson said.

Created in 1919, the Bank of North Dakota is the only state-owned bank in the nation.

The bank is currently housed in two structures -- a four-story tower built in 1917 and an annex that was built in 1967.

The tower was originally built as an automobile assembly plant, but the bank moved in two years later. The annex was a former grocery store that was purchased by the bank in 1989 and remodeled to house the student loan division.

Plans are for the bank, located at 700 E. Main Ave., to be rebuilt at its current location or constructed in another location downtown.

The bill likely will be worked on in a conference committee composed of members of each house. The Senate's version of the bill includes $18 million for a new bank.

(Reach reporter Tom Rafferty at 223-8482 or tom.rafferty@bismarcktribune.com)

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2 much time on their hands wrote on Dec 26, 2006 9:07 AM:

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