A hearing on the Du Page Airport Authority`s $33.1 million 1989 budget, a 200 percent increase over last year`s $11.1 million budget, is set for March 28.
The authority`s new budget calls for spending more than $16 million on land purchases for new runways. More than half of the proposed $22 million spending increase will be paid with state and federal grants, according to the 1989 fiscal plan. The authority currently levies a property tax of 6.9 cents per $100 of assessed valuation. The new budget is expected to require a tax rate of slightly more than 7 cents.
The authority`s corporate budget, as proposed this week, doesn`t take into account the authority`s existing bonded indebtedness or the tax impact if it decides to sell $17.5 million in bonds to finance its long-term expansion plans. A lower court ruling Wednesday upheld the validity of the authority`s existence and cleared the way for the bond sale.
