January 3, 2008
Treasurer Schmidt: BidND Program Benefits Kulm
Contact: Lisa Anderson (701) 328-2643
Treasurer Schmidt: BidND Program Benefits Kulm Bismarck, ND – State Treasurer Kelly Schmidt
announced today that Kulm has recently received $198,000 investment dollars through BidND, an investment initiative
developed and administered by Schmidt.
Through a bid process, certificates of deposit are purchased from North Dakota financial institutions
which lend these dollars back into their communities, fostering economic growth. BidND has placed millions of dollars
in over 60 North Dakota communities from funds, such as the Veteran’s Post War Trust Fund, Veterans Cemetery Fund
and the investments from over 10 agricultural commodity groups, such as the Soybean Council and the Beef
“This is a win-win for our state and our communities, by doing this we are able to maximize the
return on our investments and help North Dakota grow.
Through this initiative and effective cash management the State Treasurer’s Office contributed
$36.5 million in interest income to the state’s general fund for the 2005-07 biennium. This exceeded the
legislative forecast for interest income by 425%.
Financial institutions to recently participate and receive BidND dollars are located in Edgeley and
To locate other North Dakota communities to receive BidND funds we invite you to check out our website
at www.nd.gov/treas and click on BidND.