BURBANK : Schools Hire 3 Firms to Draw Up Bond Bid
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The Burbank school board has hired three investment firms to help the school district draw up a proposal for a multimillion-dollar bond offering to rebuild and renovate schools. The proposal is slated to go before voters in 1994.
The board Tuesday hired the Sherman Oaks firm of Stone & Youngberg to be the lead group. The two other firms are Prager, McCarthy & Sealy in Los Angeles and Ranscher, Pierce & Refsnes Inc. of San Francisco, will also help, schools Supt. Arthur Pierce said.
A preliminary plan drawn up by the school board calls for spending about $130 million to conduct major renovation of both Burbank and John Burroughs high schools as well as modernization of the rest of the school facilities.
The amount of the bond issue has not yet been decided, officials said, but tentative plans call for asking voters to approve $70 million. If that fails, officials said, the board will ask for $40 million.
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