Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Ocean Highway and Port Authority Deal - Lehman Brothers Collection

Ocean Highway and Port Authority

Company Deal$23,300,000 pollution control revenue bonds, 1974 series (ITT Rayonier Project)
Transaction TypePollution Control Revenue Bonds
Deal DescriptionOcean Highway and Port Authority (Nassau County, Florida) issued pollution control revenue bonds to finance a project with ITT Rayonier. The project consisted of air and water pollution control facilities installed at the mill. The mill utilized a sulfite cooking process to extract cellulose pulp from wood chips. The chemicals used in the process, which contained waste products of the cooking and bleaching process, were discharged into open waters surrounding the mill. The project comprised the following major systems: a primary treatment system, a secondary treatment system, a bleach plant waste collection and concentration system, an air pollution control systems, site and supporting facilities, and collection lagoons.
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