Moses Lake port approves bonds

MOSES LAKE - Port of Moses Lake Commissioners approved bonds for $7.5 million to help Moses Lake Industries build chemical manufacturing facilities.

After lack of a quorum canceled a March 10 Port of Moses Lake meeting, the district met Thursday as the port district's public corporation, explained Craig Baldwin, port district executive manager.

A resolution was approved for the issuance of a non-recourse revenue bond for Moses Lake Industries.

"What that means, basically, is that Moses Lake Industries can take out a revenue bond," Baldwin said. "It actually does not go through the port and there's no liability to the port at all on that, but it does go through a public corporation, which is why the port has that established. It's simply a means of companies being able to request and receive bonds for construction purposes."

The ports regular meeting, also rescheduled from Monday to Thursday due to the lack of a quorum, included an extraterritorial agreement for a Genie Industries landscaping project, Baldwin said.

"Whenever we do water hookups, we do an extraterritorial agreement with the City of Moses Lake," Baldwin said.

Commissioners Mike Conley and Delone Krueger were present at the rescheduled meeting. Commissioner Larry Peterson was absent.