SAN FRANCISCO — The Los Angeles World Airports Board of Directors on Monday agreed to a $75 million settlement with bondholders in a seven-year-old dispute over United Airlines special facilities revenue bonds sold to make improvements at Los Angeles International Airport.

The $75 million payment to bondholders will come first from a $22 million rent escrow fund and from the sale of 579,348 shares of stock in United’s parent, UAL Corp., valued at about $4 million to $5 million at recent share prices. LAWA, the owner of LAX and three smaller airports, agreed to pay the residual of the $75 million settlement, but not more than $52.7 million.

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