Wednesday, April 3, 2002 Queen Mary bond OK'd   By Tracy Manzer, Staff writer LONG BEACH - The City Council unanimously approved a $28.2 million bond Tuesday to refinance debts and make repairs to the Queen Mary. No taxpayer money will be used to repay the debt, which could total as much as $35 million depending on interest rates as city officials look for bond investors over the next two months. Queens Seaport Development Inc. - the company that runs the historic ship - will be responsible for paying off the bond, which will have a term of up to 30 years. QSDI plans to spend about $16.5 million to pay off existing loans, saving about $1.25 million a year in lower interest payments. Another $5.1 million will cover hotel room renovations and elevator and escalator repairs, and $1 million will be set aside for construction costs. The bond will include a healthy financial reserve and cover at least a year of debt payments, which could be as high as $3.05 million a year. At least half a dozen residents urged the council to take more time to research the financial feasibility of the Queen Mary and its link to a new Carnival Cruise Lines terminal. A separate Carnival terminal bond is expected to be brought before the council in the next few weeks. Resident Traci Wilson-Kleekamp said the bond report lacked a hotel occupancy report and market analysis. "The public counts on you to have all the facts before you make a $35 million decision," she told the council. Mayor Beverly O'Neill said that a comprehensive staff report was completed when the issue was first considered in January. However, resident Ann Cantrell countered that the hotel report and marketing analysis portion of that report remains blank. Queens Seaport CEO Joseph Prevratil said Tuesday night he was pleased with the decision, but added that investors still must be found to purchase the bonds.