BISMARCK, N.D. (NewsDakota.com) – North Dakota Governor Doug Burgum has signed into law his budget for the upcoming two year period.

In that bill is $50 million to create an endowment fund for a proposed Theodore Roosevelt Presidential Library and Museum to be built in Medora. The $50 million consists of $15 million in unspent general fund dollars from the current two year budget, as well as a $35 million loan from the Bank of North Dakota.

Governor Burgum said the money will be used to attract $100 million in private donations for the library.

He was asked how much of the $100 million has been pledged so far.

Randy Hatzenbuhler is the president of the Theodore Roosevelt Medora Foundation. He says this hearkens back to when Harold Schafer took a chance and made Medora what it is today.

Story submitted to NewsDakota.com by Dave Thompson of Prairie Public Radio in Bismarck.