Bond Issuance Presentation — original pdf

Backup

City of Austin – Department of Aviation Airport System Revenue Bonds, Series 2022A and Series 2022B (AMT) City Council Meeting / April 7 Airport Advisory Committee / March 8 © PFM 1 Airport Continues to Grow, Despite Pandemic  During fiscal year 2021, the Airport was the 26th busiest domestic O&D airport and 32nd largest passenger airport in the United States (per USDOT data cited in Leigh Fisher report)  Service to 90 airports – up from 60 airports in March 2019  By November 2021, enplaned passengers exceeded the same month in 2019 by 8% © PFM 2 Use of Proceeds  Purpose of the Series 2022 Bonds: • Partially fund the Airport Expansion and Development Program (AEDP) which will: • Optimize the Barbara Jordan Terminal by adding new gates and making other improvements • Building a new baggage handling system • Building a future midfield Concourse B facility, including associated airfield infrastructure • Make a deposit to the Debt Service Reserve Fund • Fund capitalized interest during the construction period • Pay costs of issuance  Non-AMT and AMT series of bonds  Principal repayment period – 2025-2052 © PFM 3 ● Existing Debt Service ● Projected 2023 Debt Service Financing Schedule  Week of March 21 Rating Meetings  April 7 City Council meeting to approve parameter Ordinance  Week of April 11 Receive ratings and post POS  Week of April 18 Price Bonds  May 10 Closing © PFM 4