Title
Set Public Hearing for Airport 2019 General Airport Revenue Bonds and 2019 Bond Anticipation Notes
Action
Action:
A. Adopt an initial finding resolution and authorize the Chief Financial Officer to make appropriate application to the Local Government Commission for issuance of General Aviation Revenue Bonds not to exceed $235,000,000 and revenue bond anticipation notes not to exceed $145,000,000, and
B. Adopt a resolution setting a public hearing on May 28, 2019 for this financing as required by Internal Revenue Service regulations.
Body
Staff Resource(s):
Brent Cagle, Aviation
Robert Campbell, Finance
Explanation
* Authorize the issuance of up to $235,000,000 which is comprised of $115,000,000 in General Aviation Revenue Bonds (GARBs) and up to $120,000,000 in refunding General Aviation Revenue Bond Anticipation Notes to provide permanent financing for projects listed below, including expenses funded with short-term construction-period financing issued in 2017.
* This action would also authorize a new construction period financing program for up to $145,000,000 in short-term notes to provide financing for other projects that are in the design phase; it is expected that permanent financing for these projects will be secured in two or three years.
* The 2019 GARBs will provide long-term financing for the following or other similar projects which are part of the Aviation Community Investment Plan:
? East Terminal Expansion,
? Terminal Rehabilitation,
? Concourse A North Expansion,
? Concourse E Expansion,
? Runway 18L/36R Rehabilitation and Taxiway C7 Removal,
? Vehicle Maintenance Facility,
? Terminal Fuel Farm Expansion, and
? Concourse A Renovation Fueling.
* The 2019 Bond Anticipation Notes will provide short-term financing for the following or other similar projects:
? Concourse A Expansion,
? Terminal Lobby Expansion,
? Terminal Lobby Canopy,
? Customs and Border Protection Renovations,
? North End Around Taxiway and Relocation,
? Taxiw...
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