The State - News from Oct. 25, 1987

The Golden Gate Bridge was left $1 million in the hole after its 50th birthday bash earlier this year, but celebration organizers have come up with a formula to pay off the debt. Friends of the Golden Gate Bridge, the group that sponsored the $2-million extravaganza, decided on Friday to allocate $197,727 in previously donated cash, Golden Gate gift shop profits of about $250,000 yearly and profits from the sale of an antique car valued at $18,500 to repay the Golden Gate Bridge Highway and Transportation District for a loan received, a spokesman for the sponsoring group said. Hibernia Bank has forgiven the party organizers the interest on a $500,000 loan and given the group a new loan of $974,000.