NewsSeptember 25, 2008
Mo. treasurer denies aid for Show-Me Ethanol plant
JEFFERSON CITY, Mo. (AP) -- The Missouri treasurer's office has denied financial aid for an ethanol plant that has political connections. Show-Me Ethanol had received conditional approval in October 2006 for a $48 million state bank deposit that would be used for a reduced-interest-rate loan. But the big condition was that the ethanol plant could have no investors who either were state officials or related to them...
JEFFERSON CITY, Mo. (AP) -- The Missouri treasurer's office has denied financial aid for an ethanol plant that has political connections.
Show-Me Ethanol had received conditional approval in October 2006 for a $48 million state bank deposit that would be used for a reduced-interest-rate loan. But the big condition was that the ethanol plant could have no investors who either were state officials or related to them.
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Among the investors was Gov. Matt Blunt's brother, Andy Blunt, and state House member John Quinn.
On Thursday, Treasurer Sarah Steelman revoked the plant's conditional approval and rejected its financial aid application.
Steelman said Show-Me Ethanol never provided documentation showing it was abiding by the political investor restrictions and had not clarified all of its financing details.
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