Piedmont Triad International Airport will sell $65 million in bonds to pay for a third runway.

The Piedmont Triad Airport Authority voted last week in favor of sale, which will take place in February, airport director Ted Johnson tells ATI, flighglobal.com’s sister news service.

A bond sale is necessary since the new north-south runway is opening in 2009-two years before the airport receives its final payment from the US FAA, Johnson says.

The airport, located in Greensboro, NC, has received a Letter of Intent from the FAA for $118 million and has received about half that amount, Johnson explains.

The 9,000-foot (2.74 m) runway and taxiway will cost between $120 million and $130 million, Johnson notes, explaining that a ne

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