Port to hold second hearing on bond issue

Officials seek comment on roughly $20 million proposal that would fund capital projects

rboone@theolympian.comJuly 8, 2013 

The Port of Olympia commission will continue its public hearing about a proposed bond issue at its meeting Monday in Bucoda, a conversation the commission decided to extend after its meeting June 24 in Tenino.

Monday’s meeting is set for 5:30 p.m. at the Bucoda Community Center, 101 Seventh and Main St. E.

After Monday’s meeting, the port commission will vote on the bond issue at its meeting on July 22.

That meeting also is set for 5:30 p.m., although the meeting returns to its usual location at the LOTT Clean Water Alliance board room, 500 Adams St. N.E., Olympia.

The port proposes to raise about $20 million from a bond issue to pay for several capital improvements.

Here are the following projects:

 • Building a stormwater treatment facility at the marine terminal.

 • Dredging ship berths along the marine terminal and the Swantown Boatworks area.

 • Building a second warehouse on the marine terminal for current cargoes.

 • Investing in safety projects at Olympia Regional Airport.

If approved by the commission, the bonds would be paid off in 2029, port finance director Jeff Smith told The Olympian last month.

The port will pay down the bonds with its property-tax levy, which is $4.8 million this year. Even though the property-tax levy might increase in the future, it does not need to be raised to pay for the new bond issue, he said.

Those who can’t attend Monday’s meeting can submit their comments in writing, either via the port website at www.portolympia.com or by letter, addressed to the Port Administrative Office, 915 Washington St. N.E., Olympia, WA 98501.

The deadline for written comments is 5 p.m. July 19.

Rolf Boone: 360-754-5403 rboone@theolympian.com theolympian.com/bizblog

The Olympian is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service