Airport Bonds May Be Speeded to Avoid Tax
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 loss of tax-exempt status on bonds could increase the cost of financing the structures by 35% and significantly reduce the salability of bonds.
The cost of the bonds will be determined in about two months.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
