Ethanol plant to go ahead before bond issue vote

Construction is set to begin on Iowa’s newest ethanol plant. The Midwest Grain Processors plant will be built near Lakota in northern Iowa’s Kossuth County. A county bond issue to raise five million dollars for the project will be held in a few weeks. Project coordinator Brad Petersburg says the plant will go forward even without the assurance of the bond money.Petersburg says the move is a big risk but they need to move forward on the plant, which could eventually haul in a half-million dollars a month, or even twice that.The 59-million dollar ethanol plant had been okayed by the county supervisors but a petition drive of residents forced the county to call the special election next month. Petersburg says the group is looking for other funding options in case the bond issue fails. He says they don’t want to lose the opportunity the plant presents by waiting.Along with the lost profits, Peterson says another factor could put the project in jeopardy if the bond issue fails.The vote is slated for July 10th. It’ll need 60-percent approval to pass.