Tag: Biesiot Activities Center

The $3.8 million question: As the DSU Foundation heads toward dissolution, how will the remainder of the Biesiot Activities Center’s loan be paid?

Fans sit in the stands during Dickinson Trinity’s football game against Kindred on Friday afternoon at the Henry Biesiot Activities Center in Dickinson. The DSU Foundation, which had been paying the loans on the stadium, is headed toward dissolution after being in fi nancial receivership for nine months. Soon, Southwest District Judge William Herauf will likley be the one to decide how the remaining loan of $3.8 million on the stadium will be paid if the foundation cannot.
Fans sit in the stands during Dickinson Trinity’s football game against Kindred on Friday afternoon at the Henry Biesiot Activities Center in Dickinson. The DSU Foundation, which had been paying the loans on the stadium, is headed toward dissolution after being in fi nancial receivership for nine months. Soon, Southwest District Judge William Herauf will likley be the one to decide how the remaining loan of $3.8 million on the stadium will be paid if the foundation cannot.

A Dickinson judge will decide who takes control of the Henry Biesiot Activities Center’s outstanding loan payments when the Dickinson State University Foundation enters dissolution proceedings in Southwest District Court.

The foundation has more than $3.8 million left to pay on the stadium and events center on DSU’s campus and recently defaulted on its most recent semi-annual loan obligation by paying just 38 percent of the required amount.

Sean Smith, the attorney appointed last December as the foundation’s financial receiver, said he can’t say how or if the foundation has the funds to pay off the BAC’s outstanding loans.

“That’ll all be up to the judge to decide,” Smith said. “There are statutory priorities, and I don’t know what’s going to happen so I can’t comment on those. But ultimately it’ll be up to the judge, the facts and circumstances that are in front of him.”

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