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Oil Patch Cities Paying Off Debt

Sep 17, 2017


David TuanThe North Dakota oil boom turned black gold into green for public and private interests over its high-flying run.

But now, leaders in oil patch cities that invested hundreds of millions of dollars to deal with the boom are trying to cope with high municipal debts while anticipating future spending needs.  Williston city officials estimate a total of $500 million was spent as a result of the boom.

David Tuan, Williston city administrator, described the city's debt load as “manageable” — and the inevitable result of oil boom pressures.

“It is what it is; we had a shortage of funding,” Tuan said. “It was all done to serve the industry, and the industry is here to prop up the state’s economy. So I don’t see it as a frivolous thing that we chose to do. It was necessary, but it has lasting effects.”

Click here to read more from Forum News Service reporter Andrew Haffner.
 
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