Bonds issued to build barge facility
Bonds not to exceed $8.5 million will be issued by the Lawrence County Port Authority to fund a project at Superior Marine.
The project will construct a barge sanding, repairing and painting in an environmentally friendly facility down from its current Chesapeake-South Point location.
At its general Thursday meeting the Lawrence County Commission approved the issuance of the bonds because state law requires its sign-off of the project.
“These tax-exempt bonds would be open to anyone wanting to expand in Lawrence County,” Dr. Bill Dingus, executive director of the Lawrence Economic Development Corporation, said. “Other industries if they would need money for expansion or job creation, that is one of the vehicle the port authority can use.”
Lawrence County Treasurer Stephen Burcham reported that so far $16 million has been collected in first half tax collection.
“There is a little bit of mail to go through,” Burcham told the commission. “We are very close. Friday was a busy day. We have 2,483 transactions.”
Last year first half brought in $19 million.
“We’re pretty close,” he said.
Second half will be due on July 8.
Aid Township Trustees and Village of South Point have made inquiries into getting bond financing from the county’s Neighborhood Investment Program. The township would want less than $200,000 for road equipment and South Point would seek about $400,000 for sewer and water improvements.