November 16, 1989

Port pays twice going rate for bond work

Port Everglades hired politically connected firms to sell its bonds, then paid the companies roughly twice the going rate for similar work in South Florida. In the last three years, the fast-growing port has issued $270 million worth of bonds, mostly to pay for its expansion. Of that, nearly $5 million went to bond firms, lawyers and salesmen -- some who have close personal and political ties to port commissioners.

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