Tacoma port issues $131 million in GO bonds

Tacoma port issues $131 million in GO bonds The Port of Tacoma has issued $131.3 million in general obligation bonds to help fund infrastructure projects related to the redevelopment of the Blair-Hylebos Peninsula throughout 2008.
   The developments are a part of the port’s five-year, $953.6 million capital improvement program, which includes redevelopment of the Totem Ocean Trailer Express terminal and a development of a 168-acre container terminal for Yusen Terminal Tacoma Inc., a wholly owned subsidiary of NYK Line.
   The bond issue, approved by the Port of Tacoma Commission on Dec. 20 and executed on Jan. 8, includes a $109.5 million non-alternative minimum tax series at 4.498 percent and a $21.8 AMT series at 4.875 percent.
   Funded by Merrill Lynch and Citigroup, both bond series were issued at a premium, providing the port with proceeds of $139.1 million.