Airport Funding

I have to admit to being cynical of government, having been someone the government depends on for taxes. I still fail to see how the last estimates of $1.6 billion for an El Toro airport will not affect Orange County taxpayers negatively. The interest alone will easily exceed $100 million per year on those bonds that will not be covered by landing fees and parking. Other revenue sources (state and federal funds) are not certain and come from taxes nonetheless. Unless the airport can immediately generate that interest plus principle, “wealthy” bondholders would not knowingly invest in a bond this speculative.

DEREK QUINN, Laguna Niguel