The Port of Bellingham holds a hearing Nov. 12 on borrowing up to $41.7 million
What happened: The Port of Bellingham may borrow up to $41.7 million by selling tax-exempt bonds.
A bond is a loan from investors that the Port repays over time with interest.
The money would pay for work at four Port sites, or pay off older Port debt there, the notice says.
Blaine Harbor: up to $18.8 million.
Shipping terminal on Cornwall Avenue: up to $8.8 million.
Squalicum Harbor: up to $7.1 million.
Airport: up to $7.0 million.
Federal tax law requires a public hearing before bonds like these are sold, the notice says.
The notice does not say how the Port would repay the bonds, how much is new borrowing or when bonds would be sold.
What's next: the hearing is Thu. Nov. 12 at 11 a.m. at the Port office, 1801 Roeder Ave. Written comments go to the Port's chief financial officer.