“RED WING — Recent legal advice has created a new twist in the potential sale of Mississippi National Golf Links in Red Wing. The city’s bond lawyer says that any proceeds from the sale of the 36-hole municipal course would have to be used to pay down the remaining revenue bond rather than going into the general fund.”
“Our take is if the city pays off the bond, that is a gift to Wendell Pittenger seeing as how he’s the guarantor on the bond,” said Erik Fridell, co-founder of Save MNGL. “That’s purely a gift to the lease holder. And it hasn’t been explained. That’s a huge deal.” In essence, they claim, Pittenger would buy the course and pay off a bond he was already required to pay with the same money. Save MNGL members previously suggested that the appraisal was short a few million dollars.
Regarding the bank’s appraisal of MNGL: “Kent Laugen, a Red Wing attorney, requested that Minnesota’s Information Policy Analysis Division review the situation weeks ago. IPAD informed City Administrator Kay Kuhlmann on Monday that it would do that. The city has until June 1 to provide a legal explanation for the redactions. IPAD’s advisory opinion is expected to be posted at www.ipad.state.mn.us by the end of June.”