State To Issue Bonds For Kaiser Project

Tax-exempt bonds valued at $19 million will be issued this year for Kaiser Aluminum Corp. to help modernize the company’s Mead smelter, state officials said.

The money will be used to finance a portion of the process to recycle spent carbon anodes left over during the aluminum smelting process.

The financing is part of $126 million in bonds for seven projects statewide announced Tuesday by the Washington Department of Community, Trade and Economic Development. The process provides private companies and others less expensive financing and allows investors to purchase bonds without paying any federal taxes.

A separate $17.5 million bond also will be issued for a proposed Grant County factory that will use pulp mill screenings, old newspapers and used corrugated cardboard to produce finished apple trays.