One of California’s most famed art institutions, the Getty, is turning to the bond market for $500 million to help preserve its masterpieces as the state prepares for another fire-prone summer.
The J. Paul Getty Trust is expected to sell the top-rated taxable bonds on April 3. Proceeds will be used in part to bolster the institution’s defenses in the event of another disaster and includes investments in new boilers, irrigation and surveillance systems, as well as water storage and firefighting equipment, according to bond documents.
Funds will also be directed toward educational and outreach