Oct 29, 2013 9:25 AM by AP (Photo courtesy MGN Online)
Lake Charles Harbor and Terminal District board members have approved two submissions that will get the port into the bond market as it prepares to finance $100 million in revenue bonds for several construction projects.
Last week, the state Bond Commission gave the green light for the port to issue revenue bonds in one or more series not exceeding 30 years.
The agency that will be handling the $100 million bond issue was present at Monday's port meeting. The port itself is issuing the bonds and their underwriter is Jefferies. The underwriter will market the bonds.
Michael Dees, port director, has said the bonds are being paid off through operational profits.