Hawaii Considers Floating Bonds for Inter-Island Ferry

Kelemen, Jasmna
January 2005
Bond Buyer;1/14/2005, Vol. 351 Issue 32050, p36
Trade Publication
The article reports that Hawaii Governor Linda Lingle has proposed issuing 40 million dollar of general-obligation bonds to prepare the state's harbors for a proposed inter-island ferry system that could begin operations by 2007. The governor's request, included in her budget proposal for the 2006-2007 biennium, represents a substantial victory for Hawaii Superferry in its quest to create a nautical intrastate freeway. The private company, which was created in 2001 by a group of former airline and maritime executives, proposes to build two state-of-the-art catamarans that will ferry passengers, their cars, and commercial vehicles between the state's larger islands for half the price of an inter-island flight. The plan hinges on the state's willingness to upgrade its harbors so that the ports can handle the big ships and accommodate the ferries' roll-on-roll off ramps.


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