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

More documents

Recommendations

Info

365 days. This credit is available to you against presentation of the following documents (the “Payment Documents”) presented to JPMorgan Chase Bank, National Association (the “Bank”) as described below: A certificate (with all blanks appropriately completed) (i) in the form attached as Exhibit C hereto (an “Interest Drawing”), (ii) in the form attached as Exhibit D hereto (a “Redemption Drawing”), (iii) in the form attached as Exhibit E hereto (a “Liquidity Drawing”), or (iv) in the form attached as Exhibit F hereto (a “Stated Maturity Drawing”). All drawings shall be made by presentation of each Payment Document to JPMorgan Chase Bank, National Association by facsimile at facsimile number (312) 954-6163 or alternatively to (312) 954-3140, Attention: Standby Letter of Credit Unit, or any other facsimile number as may be designated by the Bank by written notice delivered to you, without further need of documentation, including the original of this Letter of Credit, it being understood that each Payment Document so submitted is to be the sole operative instrument of drawing. You shall use your best efforts to give telephonic notice of a drawing to the Bank at its Standby Letter of Credit Unit, (at: (312) 954-1922 or alternatively to (800) 634-1969, Option 1) on the Business Day preceding the day of such drawing (but such notice shall not be a condition to drawing hereunder and you shall have no liability for not doing so). We agree to honor and pay the amount of any Payment Document(s) in compliance with all of the terms of this Letter of Credit. If such drawing, other than a Liquidity Drawing, is presented prior to 4:00 p.m., New York time, on a Business Day, payment shall be made to you in immediately available funds, by 1:00 p.m., New York time, on the following Business Day. If any such drawing, other than a Liquidity Drawing, is presented at or after 4:00 p.m., New York time, on a Business Day, payment shall be made to you in immediately available funds, by 1:00 p.m., New York time, on the second succeeding Business Day. If a Liquidity Drawing is presented prior to 12:15 p.m., New York time, on a Business Day, payment shall be made to you in immediately available funds, by 2:45 p.m., New York time, on the same Business Day. If a Liquidity Drawing is presented at or after 12:15 p.m., New York time, payment shall be made to you in immediately available funds, by 2:45 p.m., New York time, on the following Business Day. Payments made hereunder shall be made by wire transfer to you or by deposit into your account with us in accordance with the instructions specified by the Trustee in the drawing certificate relating to a particular drawing hereunder. “Business Day” means any day other than (i) a Saturday or Sunday, (ii) a day on which banks located (A) in the city in which the principal office of the Trustee or Paying Agent is located, (B) in the city in which the office of the Bank at which drawings hereunder are to be honored are located, (C) in the city in which the corporate trust office of the Trustee at which the Bonds may be tendered for purchase by the holders thereof is located, or (D) in the city in which the principal office of the Remarketing Agents are located, are required or authorized to remain closed or (iii) a day on which The New York Stock Exchange is closed. If a drawing does not conform to the terms and conditions of this Letter of Credit, we will notify you within the time set forth above for honor of such demand for payment, such notice to be confirmed in writing to you within one Business Day. Page 2 of 25
The Available Amount (as hereinafter defined) of this Letter of Credit will be reduced automatically by the amount of any drawing hereunder; provided, however, that the amount of any Interest Drawing hereunder shall be automatically reinstated effective on the open of business on the fifth (5th) calendar day from the date such drawing is honored by us unless you shall have received written notice by telecopy or tested telex (or other electronic telecommunication) by 5:00 P.M., New York time, on the fourth (4th) calendar day after such date that the Bank has not been reimbursed in full for any such drawing or any other Event of Default or Event of Termination has occurred and as a consequence thereof the Letter of Credit will not be so reinstated and the Bank has directed the Trustee to cause a mandatory tender of the Bonds pursuant to Section 7.03 of the Reimbursement Agreement. After payment by the Bank of a Liquidity Drawing, the obligation of the Bank to honor drawings under this Letter of Credit will be automatically reduced by an amount equal to the amount set forth in the certificate in the form of Exhibit E relating to such Liquidity Drawing. In addition, in the event of the remarketing of the Bonds (or portions thereof) previously purchased with the proceeds of a Liquidity Drawing, the Bank’s obligation to honor drawings hereunder will be automatically reinstated in the amount indicated in a certificate in the form of Exhibit K attached hereto concurrently upon receipt by the Bank of such certificate and our receipt of funds. Upon receipt by us of a certificate of the Trustee in the form of Exhibit G hereto, the Letter of Credit will automatically and permanently reduce the amount available to be drawn hereunder by the amount specified in such certificate. Such reduction shall be effective as of the next Business Day following the date of delivery of such certificate. Upon any permanent reduction of the Available Amount to be drawn under this Letter of Credit, as provided herein, we will deliver to you an amendment to this Letter of Credit substantially in the form of Exhibit L hereto to reflect any such reduction. The “Available Amount” shall mean the Original Stated Amount (i) less the amount of all prior reductions pursuant to Interest Drawings, Redemption Drawing and Reductions, Liquidity Drawings or Stated Maturity Drawings, (ii) less the amount of any reduction thereof pursuant to a reduction certificate in the form of Exhibit G hereto to the extent such reduction is not already accounted for by a reduction in the Available Amount pursuant to (i) above, and (iii) plus the amount of all reinstatements as above provided. Prior to the Termination Date, we may extend the Stated Expiration Date from time to time at the request of the Applicant by delivering to you an amendment to this Letter of Credit in the form of Exhibit I hereto designating the date to which the Stated Expiration Date is being extended. Each such extension of the Stated Expiration Date shall become effective on the Business Day following delivery of such notice to you and thereafter all references in this Letter of Credit to the Stated Expiration Date shall be deemed to be references to the date designated as such in such notice. Any date to which the Stated Expiration Date has been extended as herein provided may be extended in a like manner. Upon the Termination Date this Letter of Credit shall automatically terminate. This Letter of Credit is transferable in whole only to your successor as Trustee. Any such transfer (including any successive transfer) shall be effected by the presentation to us of this Letter of Credit accompanied by a request designating your successor in the form of Exhibit H, Page 3 of 25
Page 1:
SAN FRANCISCO INTERNATIONAL AIRPORT
Page 4 and 5:
2010A BONDS MATURITY SCHEDULE The i
Page 6 and 7:
Information Provided by the Commiss
Page 8 and 9:
Page Page VERIFICATION OF MATHEMATI
Page 10 and 11:
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
Page 22 and 23:
“Operation and Maintenance Expens
Page 24 and 25:
Fifth, to pay for necessary reconst
Page 26 and 27:
Letter of Credit Upon the delivery
Page 28 and 29:
Pooled Reserve Account The 1991 Mas
Page 30 and 31:
No Acceleration The Bonds are not s
Page 32 and 33:
LETTER OF CREDIT AND REIMBURSEMENT
Page 34 and 35:
appealable judgment, to be null and
Page 36 and 37:
In addition to revenues received fr
Page 38 and 39:
In addition to these regulatory act
Page 40 and 41:
Each of Moody’s, Standard & Poor
Page 42 and 43:
Initiative, Referendum and Charter
Page 44 and 45:
Jackson J. Wong was appointed Chief
Page 46 and 47:
that supports all airlines in the I
Page 48 and 49:
from $1.50 to $4.00. The Airport is
Page 50 and 51:
Airport Security In the immediate a
Page 52 and 53:
� United Airlines commenced daily
Page 54 and 55:
The following table lists the air c
Page 56 and 57:
During Fiscal Year 2008-09 approxim
Page 58 and 59:
Domestic Enplanements. During Fisca
Page 60 and 61:
International Enplanements. Interna
Page 62 and 63:
Cargo Traffic and Landed Weight Car
Page 64 and 65:
TOTAL LANDED WEIGHT BY AIRLINE †
Page 66 and 67:
Settlement Agreement Under the Sett
Page 68 and 69:
Expiration of the Settlement Agreem
Page 70 and 71:
the beneficiaries (the people of th
Page 72 and 73:
Hazardous Material Management Envir
Page 74 and 75:
SUMMARY OF AIRPORT FINANCIAL RESULT
Page 76 and 77:
Aviation Market Stimulus Program In
Page 78 and 79:
On November 21, 2006, Travelex, the
Page 80 and 81:
PRINCIPAL AIRPORT CONCESSIONAIRES
Page 82 and 83:
Off-Airport Parking Facilities Seve
Page 84 and 85:
INTEREST RATE SWAP POLICY MAXIMUM N
Page 86 and 87:
The table below summarizes the inte
Page 88 and 89:
SUMMARY OF PAYMENTS MADE BY THE AIR
Page 90 and 91:
Voter Approved Changes to the Retir
Page 92 and 93:
A decline in the actuarial value of
Page 94 and 95:
Postemployment Health Care Benefits
Page 96 and 97:
Under the Treasurer’s current inv
Page 98 and 99:
Debt Service Requirements The follo
Page 100 and 101:
Current and Future Financings Capit
Page 102 and 103:
Other Matters In the regular course
Page 104 and 105:
federal, state or local tax liabili
Page 106 and 107:
MISCELLANEOUS This Official Stateme
Page 108:
(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 and 182: to or greater than the Credit Facil
Page 183 and 184: (a) such 2010A Bonds sold by the Re
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: APPENDIX H JPMORGAN CHASE BANK, NAT
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,
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?