The Mandan City Commission gave its support for a 10-unit hangar at its municipal airport through $500,000 in tax-exempt revenue bonds.
The Mandan Airport Authority issued the bonds last week.
Dr. Dale Klein, chairman of the Mandan Airport Authority, detailed the need for the hangars while giving an overview of activities there.
"We currently have a waiting list," he told the board.
He also added that Bismarck tore down a number of hangars.
"The reason we are doing it now is because in 2013-14, we need to build a new runway," Klein said.
He added in 2018, expansion of the runway is being considered in the long-term capital improvement plans for the airport.
Klein said that keeping the number of planes at the airport over 50 qualifies it for federal funding when competing with other small airports.
The airport authority is authorized to issue the bonds. These will be sold to the Wells Fargo Brokerage Services LLC., and repaid over 15 years.
The bonds are repaid from airport rent revenue and mill levy money dedicated to the airport.
Airport Manager Jim Lawler said construction could begin any time. Its scheduled completion is April 1, 2009, but that hinges on weather and other factors involved in the construction.
Posted in Local on Monday, October 13, 2008 7:00 pm Updated: 2:26 pm.
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