Port refinances 20-year bonds

In action during a special meeting held last Thursday night, Port of Sunnyside commissioners agreed to issue revenue refunding bonds.

According to the port’s executive director, Jay Hester, the action essentially refinances the remainder of a 20-year, $2.75 million bond the port took out for its industrial wastewater system back in 2003.

With the refinancing move last week, Hester says the port will save $155,000 in financing charges over the final 10 years of the loan.

Also during last Thursday’s special meeting, commissioners held an executive session related to real estate, but no action followed.

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