May 1, 2025
NOTICE OF PUBLIC HEARING
TO RESIDENTS OF THE PORT DISTRICT
KNOWN AS THE PORT OF VANCOUVER, WASHINGTON
AND OTHER PERSONS INTERESTED –
ON PROPOSED ISSUANCE OF TAX EXEMPT BONDS
NOTICE IS HEREBY GIVEN, that on May 13, 2025, at 9:30 a.m. (PDT) a public hearing at 3103 NW Lower River Road, Vancouver, Washington 98660, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), will be held by and on behalf of the Port of Vancouver, Washington (the “Port”) with respect to the proposed issuance by the Port of its Port of Vancouver, Washington Limited Tax General Obligation Bonds, 2025, in the maximum aggregate principal amount not to exceed $35,000,000 (the “Bonds”). One or more series of the Bonds constitute exempt facility bonds for docks and wharves as defined in Section 142(a)(2) of the Code, issued to finance the constructing, improving and equipping Port facilities and property and related demolition with respect to (i) improvements to and equipping of the Port’s Berth 7 including, but not limited to, replacing structural and fender pilings, replacing a portion of the concrete deck, and installing an improved fire safety system and (ii) related demolition including, but not limited to, the removal of structural and fender pilings and a portion of the concrete deck (collectively, the “Project”) and paying all or a portion of the costs of issuance of Bonds. The maximum aggregate principal amount of the Bonds to be used for the Project will be $4,500,000 and the remainder of the proceeds of the Bonds will be used for purposes other than exempt facilities. The Port will be the owner of the Project. The Project is located on the north bank of the Columbia River approximately 104 river miles from the mouth of the Columbia River and situated approximately at the west end of the Port facility known as “Terminal 2” between 2799 and 2805 NW Harborside Dr., Vancouver, WA. The Port expects the Bonds to be marketed by December 31, 2025.
The hearing will commence at 9:30 a.m. or as soon thereafter as the matter can be heard, at 3103 NW Lower River Road, Vancouver, Washington 98660. The hearing will be streamed live on https://www.cvtv.org/. If you have any questions, please contact the Port office at 360-693-3611 during business hours, Monday-Friday, 9:00 am to 5:00 pm.
THE BONDS WILL BE LIMITED TAX GENERAL OBLIGATIONS OF THE PORT PAYABLE FROM A LEVY OF AD VALOREM TAXES UPON ALL TAXABLE PROPERTY WITHIN THE BOUNDARIES OF THE PORT SUBJECT TO TAXATION WITHIN THE LIMITS PERMITTED TO PORT DISTRICTS WITHOUT A VOTE OF THE ELECTORS AND IN AMOUNTS SUFFICIENT, WITH OTHER MONIES LEGALLY AVAILABLE THEREFOR, TO PAY THE PRINCIPAL AND INTEREST ON THE BONDS AS THE SAME SHALL BECOME DUE. THE FULL FAITH, CREDIT AND RESOURCES OF THE PORT ARE IRREVOCABLY PLEDGED FOR THE ANNUAL LEVY AND COLLECTION OF SUCH TAXES AND FOR THE PROMPT PAYMENT OF SUCH PRINCIPAL AND INTEREST.
The hearing will provide a reasonable opportunity to be heard for persons wishing to express their views on the merits of the Project, the location of the Project, the plan of financing, the issuance of the Bonds or related matters. Oral comments will be limited to 10 minutes per speaker. A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) being represented, if any, prior to speaking. Written comments will be accepted by Victor Roehm of the law office of Snell & Wilmer L.L.P. at 601 SW Second Avenue, Suite 2000, Portland, OR 97204, but must be received by the close of the hearing. Any such written comments should be clearly marked: Port of Vancouver, Washington Limited Tax General Obligation Bonds, 2025. Any persons needing special accommodations under the Americans with Disabilities Act should call 360-693-3611 to request such accommodations not later than 24 hours prior to the time and date of the hearing.
Following said public hearing and at its regularly scheduled meeting at 9:30 a.m. on May 13, 2025, the Port’s Commission intends to vote on the adoption of the Resolution approving the issuance of Bonds and to take such other action as it deems proper.
PUBLISH on May 6, 2025