Local News in Brief : Airport Bonds May Be Speeded to Avoid Taxes

Burbank Airport officials may step up plans to sell tax-exempt bonds to finance construction of a terminal and parking structure to avoid the effects of a Reagan Administration proposal that would eliminate such tax-exempt funding after the first of the year.

The Burbank-Glendale-Pasadena Airport Authority on Monday authorized hiring a San Francisco bond-counseling firm to prepare for the bond sale this year.

Airport Director Thomas E. Greer warned that the possible loss of tax-exempt status on bonds could increase the cost of financing the structures by 35% and significantly reduce the salability of bonds.