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N.D. (NewsDakota.com) – The Bank of North Dakota was recently in Jamestown to discuss with the Jamestown Stutsman Development Corporation the BND Infrastructure Loan Fund.

JSDC Executive Director Connie Ova came before the Jamestown City Council on Tuesday, June 28th to inform the city council about the possibility of applying for some of the $150 million dollars made available for infrastructure projects in the state.

The two percent, 30-year loan is available to political subdivisions and Stutsman County is not eligible to receive some of the funding. Ova stated that Jamestown has a lot of projects it wants to complete and this would be a great opportunity to apply for some extra funding that could be used in the future.

Mayor Katie Andersen pointed out that the city could put in their application for using some of the funds. She said even if they don’t use the funds they receive right away, they will not need to pull out those funds until they are needed.

Ova stated that Jamestown could receive up to $15 million of the allocated funds. If the funds were not applied for, the Bank of North Dakota would open up the applications to oil counties.

The city has until 2017 to apply for the loan.