The issuance of these bonds was authorized by the full Assembly on June 24, 2019. Those bonds were sold in November, and the Airport began the project in January. At its February 5, 2020 meeting, this appropriation was presented as an information item to the Assembly Finance Committee.
This clean-up ordinance would appropriate $16,000,000 of Airport Revenue Bonds to the Terminal Construction Capital Improvement Project (CIP A50-102). These bonds are to be repaid with Airport Improvement Program (AIP) grants as well as Passenger Facility Charge (PFC) revenue. The debt service on these bonds ends in FY30.