Official Statement Airport Commission City and County of San ...

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any, on the Mode Change Date. Such determination is conclusive and binding upon the Commission, the Trustee, the Auction Agent, the Market Agent and the Owners of such 2010A Bonds to which such rate will be applicable. Not later than 5:00 p.m., New York City time, on the date of determination of the Auction Rate for the 2010A Bonds, the Broker-Dealer is required to notify the Trustee, the Commission, the Market Agent and the Auction Agent of the Auction Rate by telephone, promptly confirmed in writing or by other Electronic Means. The Commission may revoke its election to effect a change in Mode for any 2010A Bonds to the Auction Mode by giving written notice of such revocation to the Trustee, the Remarketing Agent, the Auction Agent, the Market Agent and the Broker-Dealer at any time prior to the setting of the initial Auction Rate by the initial Broker-Dealer. Remarketing of 2010A Bonds The Remarketing Agent shall use its best efforts to offer for sale (a) all applicable 2010A Bonds or portions thereof as to which notice of optional tender has been given, (b) all applicable 2010A Bonds required to be purchased upon change from one Mode to another Mode on the Mode Change Date, and (c) all applicable Credit Provider Bonds. (a) On each Purchase Date or Mandatory Purchase Date, as the case may be: (1) unless the Remarketing Agent has notified the Paying Agent otherwise, the Remarketing Agent shall notify the Paying Agent by Electronic Means not later than 10:45 a.m., New York City time, on each such Purchase Date or Mandatory Purchase Date, of the amount of tendered 2010A Bonds which were successfully remarketed and the proceeds of which have been received by the Remarketing Agent, the names of the tendering Owners and the registration instructions (i.e., the names, addresses and taxpayer identification numbers of the purchasers and the desired Authorized Denominations) with respect thereto; and (2) the Paying Agent shall authenticate new 2010A Bonds for the respective purchasers thereof which shall be available for pick up by the Remarketing Agent not later than 1:30 p.m., New York City time. (b) On each Purchase Date or Mandatory Purchase Date, as the case may be, the Paying Agent shall direct the Trustee to Draw on the Credit Facility, as the case may be, for the related Series of 2010A Bonds, by 12:15 p.m., New York City time, in an amount equal to the Purchase Price of all such 2010A Bonds tendered or deemed tendered less the aggregate amount of remarketing proceeds received from the remarketing of such 2010A Bonds. By the close of business on the Purchase Date or the Mandatory Purchase Date, as the case may be, the Paying Agent shall purchase tendered 2010A Bonds from the tendering Owners at the Purchase Price by wire transfer in immediately available funds. Funds for the payment of such Purchase Price shall be derived solely from the following sources in the order of priority indicated and neither the Paying Agent nor the Remarketing Agent shall be obligated to provide funds from any other source: (c) immediately available funds on deposit in the Remarketing Proceeds Account established for such Series of 2010A Bonds; and (d) immediately available funds on deposit in the Credit Facility Purchase Account established for such Series of 2010A Bonds. On each Purchase Date or Mandatory Purchase Date, as the case may be, such 2010A Bonds shall be delivered as follows: C-32
(a) such 2010A Bonds sold by the Remarketing Agent shall be delivered by the Remarketing Agent to the purchasers of those 2010A Bonds by 3:00 p.m., New York City time; and (b) such 2010A Bonds purchased by the Paying Agent shall be registered immediately in the name of the Credit Provider or the Liquidity Provider, as the case may be, or its nominee or agent on or before 4:00 p.m., New York City time. If 2010A Bonds to be purchased are not delivered by the Owners to the Paying Agent by 12:00 noon, New York City time, on the Purchase Date or the Mandatory Purchase Date, as the case may be, the Paying Agent shall hold any funds received for the purchase of such 2010A Bonds in trust in a separate account and shall pay such funds to the former Owners of such 2010A Bonds upon presentation of such 2010A Bonds. Such undelivered 2010A Bonds shall cease to accrue interest as to the former Owners on the Purchase Date or the Mandatory Purchase Date, as the case may be, and moneys representing the Purchase Price shall be available against delivery of such 2010A Bonds at the principal corporate trust office of the Paying Agent; provided, however, that any funds which shall be so held by the Paying Agent and which remain unclaimed by the former Owner of such 2010A Bond not presented for purchase for a period of one (1) year after delivery of such funds to the Paying Agent, shall, to the extent permitted by law be paid to the Commission free of any trust or lien and thereafter the former Owner of such 2010A Bond shall look only to the Commission and then only to the extent of the amounts so received by the Commission without any interest thereon and the Paying Agent shall have no further responsibility with respect to such moneys or payment of the Purchase Price of such 2010A Bonds. The Paying Agent shall authenticate a replacement 2010A Bond for any undelivered 2010A Bond which may then be remarketed by the Remarketing Agent. If there shall have occurred and be continuing an Event of Default described in paragraphs (a), (b) or (c) (related to the payment of principal and interest as the same becomes due and payable) under the heading “Events of Default” in this Appendix C, the Remarketing Agent shall not remarket any 2010A Bonds. 2010A Bonds of a Series shall not be subject to mandatory purchase pursuant to the 1991 Master Resolution unless the payment of the Purchase Price is limited to payments made by a Credit Provider under a Credit Facility, proceeds of remarketing such 2010A Bonds, or to other amounts that do not constitute Revenues of the Commission. Credit Facility On each Purchase Date or Mandatory Purchase Date, as the case may be, the Trustee, at the direction of the Paying Agent, shall Draw on the Credit Facility for 2010A Bonds, by no later than the time provided in such Credit Facility for presentation of documents in order to receive payment in immediately available funds by 2:45 p.m., New York City time, on each Purchase Date and Mandatory Purchase Date, as the case may be, an amount which, together with the proceeds of the remarketing of such 2010A Bonds on such date, is sufficient to enable the Paying Agent to pay the Purchase Price of such 2010A Bonds in connection therewith. The proceeds of such Draws under a Credit Facility shall be paid to the Paying Agent, who shall deposit said proceeds in the Series 2010A Credit Facility Purchase Account. Notwithstanding the foregoing two paragraphs, the Trustee shall not Draw on a Credit Facility with respect to any payments due or made in connection with Credit Provider Bonds, or 2010A Bonds not payable from and/or secured by such Credit Facility. The Trustee shall not sell, assign or otherwise transfer any Credit Facility, except to a successor Trustee thereunder and in accordance with the terms of the Credit Facility, as the case may be, the 1991 Master Resolution. The obligation of the Commission to reimburse a Credit Provider for Draws on a Credit Facility with respect to 2010A Bonds in accordance with the Credit Facility shall constitute a Repayment Obligation within the meaning of the 1991 Master Resolution in the event and to the extent so provided in a Series Sale Resolution with respect to such 2010A Bonds and in the Credit Facility. C-33
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SAN FRANCISCO INTERNATIONAL AIRPORT
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2010A BONDS MATURITY SCHEDULE The i
Page 6 and 7:
Information Provided by the Commiss
Page 8 and 9:
Page Page VERIFICATION OF MATHEMATI
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The 2010A Bonds will be secured by
Page 12 and 13:
Maturity Date (May 1) 2011 2012 201
Page 14 and 15:
Interest on the 2010A Bonds will be
Page 16 and 17:
Mandatory Sinking Fund Redemption T
Page 18 and 19:
Redemption of Credit Provider Bonds
Page 20 and 21:
SPECIAL CONSIDERATIONS RELATING TO
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“Operation and Maintenance Expens
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Fifth, to pay for necessary reconst
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Letter of Credit Upon the delivery
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Pooled Reserve Account The 1991 Mas
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No Acceleration The Bonds are not s
Page 32 and 33:
LETTER OF CREDIT AND REIMBURSEMENT
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appealable judgment, to be null and
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In addition to revenues received fr
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In addition to these regulatory act
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Each of Moody’s, Standard & Poor
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Initiative, Referendum and Charter
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Jackson J. Wong was appointed Chief
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that supports all airlines in the I
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from $1.50 to $4.00. The Airport is
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Airport Security In the immediate a
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� United Airlines commenced daily
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The following table lists the air c
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During Fiscal Year 2008-09 approxim
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Domestic Enplanements. During Fisca
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International Enplanements. Interna
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Cargo Traffic and Landed Weight Car
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TOTAL LANDED WEIGHT BY AIRLINE †
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Settlement Agreement Under the Sett
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Expiration of the Settlement Agreem
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the beneficiaries (the people of th
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Hazardous Material Management Envir
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SUMMARY OF AIRPORT FINANCIAL RESULT
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Aviation Market Stimulus Program In
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On November 21, 2006, Travelex, the
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PRINCIPAL AIRPORT CONCESSIONAIRES
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Off-Airport Parking Facilities Seve
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INTEREST RATE SWAP POLICY MAXIMUM N
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The table below summarizes the inte
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SUMMARY OF PAYMENTS MADE BY THE AIR
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Voter Approved Changes to the Retir
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A decline in the actuarial value of
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Postemployment Health Care Benefits
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Under the Treasurer’s current inv
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Debt Service Requirements The follo
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Current and Future Financings Capit
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Other Matters In the regular course
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federal, state or local tax liabili
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MISCELLANEOUS This Official Stateme
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(This Page Intentionally Left Blank
Page 149 and 150: Introduction APPENDIX B INFORMATION
Page 151 and 152: APPENDIX C SUMMARY OF CERTAIN PROVI
Page 153 and 154: Closing Date means the date upon wh
Page 155 and 156: Interest Payment Date means each da
Page 157 and 158: the Trustee for cancellation; (b) B
Page 159 and 160: payment agreement with the United S
Page 161 and 162: Special Facility means any existing
Page 163 and 164: Revenue Fund; Allocation of Net Rev
Page 165 and 166: Moneys in the respective accounts i
Page 167 and 168: Investments are allocated. Amounts
Page 169 and 170: Subordinate Bonds The Commission ma
Page 171 and 172: act or thing the effect of which wo
Page 173 and 174: filing of any such petition or to t
Page 175 and 176: moneys, funds and properties pledge
Page 177 and 178: The recitals, statements and repres
Page 179 and 180: The Trustee or the Paying Agent, as
Page 181: to or greater than the Credit Facil
Page 185 and 186: The Remarketing Agent The Remarketi
Page 187 and 188: APPENDIX D SUMMARIES OF CERTAIN PRO
Page 189 and 190: computations made in accordance wit
Page 191 and 192: APPENDIX E SUMMARY OF CERTAIN PROVI
Page 193 and 194: statement, it must be available fro
Page 195 and 196: Duties, Immunities and Liabilities
Page 197 and 198: APPENDIX F INFORMATION REGARDING TH
Page 199 and 200: Ambac Assurance’s consolidated fi
Page 201 and 202: Capitalization of AGM At September
Page 203 and 204: The available amount of each MBIA s
Page 205 and 206: complaint also alleges that certain
Page 207 and 208: APPENDIX G PROPOSED FORM OF OPINION
Page 209 and 210: APPENDIX H JPMORGAN CHASE BANK, NAT
Page 211 and 212: The Available Amount (as hereinafte
Page 213 and 214: JPMorgan Chase Bank, National Assoc
Page 219 and 220: IN WITNESS WHEREOF, this Certificat
Page 221 and 222: (ii) $_______________________ is de
Page 227 and 228: The undersigned Transferor acknowle
Page 229 and 230: The Bank of New York Trust Company,
Page 233 and 234:
The Bank of New York Trust Company,
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