Posted Sep 15, 2023, 1:07 PM
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FYHA
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Join Date: Oct 2007
Location: Houston - Wichita, KS
Posts: 3,182
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https://www.galvnews.com/news/galves...5e64a8ae6.html
Quote:
Galveston council OKs $51M port bond on second vote
By B. SCOTT McLENDON The Daily News
9 hrs ago
GALVESTON
City council members unanimously approved a $50.8 million bond package to pay for expansion projects port officials say are necessary to maintain growth.
The proposal allows the Port of Galveston, a utility of the city, to take on almost $51 million in debt in part for berth improvements to accommodate a massive passenger liner at Cruise Terminal 25.
The propsition initially failed Aug. 25 for lack of a supermajority of the city council — six out of the seven council members have to vote in favor. Councilwoman Sharon Lewis was absent for the vote, but all other members voted in favor.
Council approval of the revenue bonds is a pivotal moment for the port, Harry Maxwell, chairman of the Wharves Board of Trustees, said.
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