Port of Beaumont Bond Proposal

On November 7, 2017, the Port of Beaumont will seek the issuance of $85 million in General Obligation Bonds to fund a portion of three major projects, along with other capital improvements, that are part of the Port’s $169.2 million Capital Improvement Program. The remaining costs associated with the projects will be funded via a combination of port and grant funds. If approved, the bonds will aid in supporting the 2,720 direct, indirect, and induced jobs created by the Port of Beaumont, with another 9,888 related user jobs also tied to the port’s operations, according to a 2015 Economic Impact Study. All projects are part of the 2014 Port of Beaumont Master Plan (PMP). If approved, the current tax rate will increase by approximately 4.6 cents per $100 valuation, totaling 11.4 cents/ $100. For example: if the taxable value of a home is $100,000, taxes will increase by $3.83 per month.