Lawmakers question REAC loan; bank’s funding of building’s purchase may conflict with law
North Dakota legislative staff will investigate whether a $9.8 million loan agreement that UND signed to buy a struggling research facility can be voided.
Sen. Ray Holmberg, R-Grand Forks, brought up the potential issue with the loan during a legislative hearing Thursday, where lawmakers continued to question higher education officials on last year’s purchase of the Research, Enterprise and Commercialization building on the UND campus.
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