SD PUC finishing up the bond default for Farmers Coop Elevator in Avon

AVON, S.D.(WNAX)- The South Dakota Public Utilities Commission finished the clean up of the bond default of the Farmers Cooperative Elevator in Avon. The elevator defaulted on its bond last July and was closed for a time as the finances were sorted out.

PUC attorney Kristen Edwards said the producer payoff process was in place.

Commissioner Kristie Fiegen says their staff had a big job in working through the default.

Fiegen says it is a good lesson for grain producers on how and who they are doing business with.

Farmers Pride Cooperative of Battle Creek Nebraska leased the elevator last September.