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Port Commission adopts rate increases and approves $250,000 line of credit
Summary
Commissioners approved a resolution granting a 3% cost-of-living adjustment for users and an 18% increase for leases not previously adjusted, and authorized a $250,000 line of credit from Rogue Credit Union to support Port operations.
At the Sept. 15 meeting the Port Commission approved a resolution to adjust rates: a 3% cost-of-living adjustment for all users and an 18% increase for leases that had not been previously adjusted. Commissioner Pat Cox moved to approve the resolution; the motion was seconded (seconding commissioner not specified in the minutes) and the vote passed unanimously.
Commissioners also discussed and approved a $250,000 line of credit commitment letter from Rogue Credit Union to provide liquidity for Port operations. Commissioner Pat Cox moved to approve the commitment letter, Commissioner Scott Mecum seconded, and the motion passed unanimously. The minutes do not list specific budget line changes tied to the rate increase or the intended uses of the line of credit; staff follow-up was listed on the future agenda.
