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Port of Moses Lake seeks narrow debt-capacity increase for rail project
Summary
Senate Bill 6,132 would let a qualified port district add 0.25 percentage points to its general-obligation debt capacity without a voter referendum if certain tax-increment and assessed-value conditions are met; Port of Moses Lake officials and local economic-development leaders urged support, citing inflation-driven funding gaps on a near-ready rail project.
The Senate Local Government Committee heard substitute Senate Bill 6,132 on Tuesday, a measure limited to selected inland port districts that would allow a modest increase in debt capacity to complete infrastructure projects.
Elizabeth Wren, staff to the committee, said the bill would permit a port district that has created a tax-increment financing area and meets specified assessed-value thresholds to contract additional indebtedness or issue general-obligation bonds up to an extra…
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