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Lake Charles port board authorizes up to $40 million in revenue bonds to bridge Hurricane Laura repairs
Summary
The Lake Charles Harbor and Terminal District approved a resolution authorizing issuance of revenue bonds not to exceed $40 million to provide short-term financing while awaiting FEMA and state reimbursements for Hurricane Laura repairs; counsel said the measure includes a reimbursement authorization and staff said they do not expect to borrow the full amount.
The Lake Charles Harbor and Terminal District on Feb. 26 approved a resolution authorizing the issuance of revenue bonds "not to exceed $40,000,000" to support capital projects tied largely to repairs from Hurricane Laura.
Staff presenting the resolution told commissioners the $40 million figure is a conservative cap suggested by bond counsel and said the district does not anticipate needing the full amount. "That was another significant reason…
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