The city's board of airport commissioners on Monday authorized the sale of $950 million in bonds to help finance Los Angeles International Airport modernization projects, including renovation of the Tom Bradley International Terminal.
Airport officials say it is the largest bond issue undertaken at LAX. They said the last major bond issue was for $200 million.
Even after the bonds are sold, airport officials said LAX would have far less debt than other major airports across the country, including Miami and San Francisco international airports. The sale is scheduled for July.
-- Dan Weikel