Miami Considers Bond Issue To Pay Off Port Miami Loan

MIAMI (CBSMiami) – With a Port Miami loan coming due in the next few months, city officials are considering issuing more public debt.

The $45 million loan, held by Wells Fargo Bank, must be paid off in January.

City officials originally considered looking into private financing options but Miami's financial advisor recommended a bond issue instead.

On Monday, a finance committee approved the recommendation. It will go before the city commission later this month.