SEPA accepts JSDC rail switch loan

Jamestown (CSi) The Spiritwood Energy Park Association (SEPA) Board of Directors has unanimously accepted a $785,000 loan from the Jamestown/Stutsman Development Corporation.

The dollars will cover the cost of an automated switch BNSF is requiring between the Energy Park Association’s rail loop and the BNSF mainline.

The 12-year loan carries a zero percent interest and has a two-year deferral on repayment of principal.

BNSF is requiring the payment no later than March 31, 2015 to begin service to the rail loop.