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