Cedar Shore bonds could be approved by Legislature

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PIERRE — The Senate is set today to give final legislative approval to issue $4.5 million of revenue bonds sought by the Department of Game, Fish and Parks.

The financing would provide $1.5 million for Angostura state recreation’s new sewer system and $3 million for GF&P marina rehabilitation at the Cedar Shore resort on the Missouri River at Oacoma.

The legislation received the Senate State Affairs Committee’s endorsement Wednesday. The legislation, HB 1030, previously won approval in the House 66-3.

The bonds would be repaid by trailer-site and concession fees at Angostura and by the concession holder at Cedar Shore. State Parks Director Doug Hofer said GF&P would be on the hook for the bonds if there was a problem, but South Dakota never has had such a problem.

Sen. Tim Rave, R-Baltic, said he wanted it on record what the contingency plan is. Sen. Larry Lucas, D-Mission, said it looked “like a good investment” in the tourism business.

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