Port authority OKs bond financing for landfill

VIENNA – The Western Reserve Port Authority has approved the issuance of $45 million in bonds to allow for construction of a landfill in Mahoning County.

Thomas J. Presby, manager of business assistance projects for the Youngstown/Warren   Regional Chamber, said the port authority has always been in the position to issue bonds as a development tool, but has never done so.

The authority took the action Wednesday to allow New Jersey-based TransLoad America to rebuild and expand the former Central Waste facility in Smith Township.

The port authority, which operates the Youngstown-Warren Regional Airport, will not incur any liability in issuing the bonds, officials have said.

The issuance of the bonds by the port authority will allow TransLoad to borrow $45 million at low interest.

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