Hearing looms large for Port Authority

Published: Thursday, June 20, 2013 at 11:32 AM.

“I understand where they are coming from but I don’t see any reason to restructure the agreement,” said board member Patrick Jones, who has long expressed opposition to any encumbrances of Arizona Chemical parcel. 

The county is second in line behind Capital City Bank on the mortgage for the barge terminal parcel.

The Circuit Court hearing will impact the county’s position.

Should the bank prevail, the county’s position is moot.

Should the port prevail, it would be unlikely, Gibson noted, that any port property could be mortgaged without a public referendum.

“I can’t tell you you will have the power to give anybody a mortgage,” Gibson said.

Board member Eugene Raffield suggested and the board agreed to ask the BOCC if the Port Authority could delay any decision until after the foreclosure hearing.

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