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Airport Bonds May Be Speeded to Avoid Tax

July 18, 1985

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.

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