The Louisiana State Bond Commission on Thursday morning gave its approval for the Port of Lake Charles to issue up to $100 million in revenue bonds.
According to Michael Dees with the Port of Lake Charles, the funds are not supported by tax, and will instead be backed by monies they already have in secure port revenue.
Since the port will be using its own money in fees, it has already collected from the companies operating there, the bonds will not be using any public money and therefore will require no voter approval.
The bonds will allow the port to build two new docks and complete other capital projects which is expected to generate even more revenue and lead to the creation of more jobs.
Jason Duke/KPLC-TV