Orange County Gets Creative

“Leaders of the Orange County Performing Arts Center [outside Los Angeles] are mulling large-scale borrowing, in the form of a bond issue, as a way to ensure completion of a $200-million concert hall in time for its scheduled opening in the fall of 2006. Fund-raising has been stalled at about $100 million for more than a year, but… bond issues often have been used by other nonprofit arts organizations, and incurring debt has been in OCPAC’s playbook of potential financing maneuvers since its capital campaign began in 1999.”