Sale of Bonds to Upgrade 3 LAX Terminals Approved
With $225 million in bonds, Los Angeles International Airport will spiff up three terminals used by United Airlines.
The Los Angeles Board of Airport Commissioners on Tuesday approved the bond sale in order to expand and improve Terminals 6, 7 and 8. The improvements include building a first-class passenger lounge and domestic baggage claim facilities and renovating existing customer lounges.
The bonds also will be used to reimburse United Airlines for money it spent for new custom inspection facilities completed last year at Terminal 6.
The tax-exempt bonds will be dated Nov. 1, 1997 and due on Oct. 1, 2034.
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