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

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attached hereto, with the signature of the appropriate officer signing on your behalf, authenticated by another one of your officers as well as an acknowledgement of the transferee signed by its officer on their behalf and authenticated by another one of its officers. Upon presentation and payment by the Applicant of $3,000 representing transfer fees payable under the Reimbursement Agreement, we shall forthwith effect a transfer of this Letter of Credit to your designated transferee. Transfers to designated foreign nationals specially designated nationals are not permitted as being contrary to the U.S. Treasury Department or Foreign Assets Control Regulations. Upon our endorsement of such transfer, the transferee instead of the transferor shall, without necessity of further action, be entitled to all the benefits of and rights under this Letter of Credit in the transferor’s place; provided that, in such case, any certificates of the Trustee to be provided hereunder shall be signed by one who states herein that he is a duly authorized officer or agent of the transferee. Communications with respect to this Letter of Credit shall be in writing and shall be addressed to us at c/o JPMorgan Chase Bank, National Association, 300 South Riverside Plaza, Mail Code IL1-0236, Chicago, Illinois 60606-0236, Attention: Standby Letter of Credit Unit, specifically referring to the number of this Letter of Credit. For telephone assistance, please contact the Standby Client Service Unit at (800) 634-1969, select Option 1, and have this Letter of Credit number available. Except as expressly stated herein, this Letter of Credit shall be governed by, and construed in accordance with, the terms of the International Standby Practices 1998, International Chamber of Commerce Publication No. 590 (“ISP98”), except for Rule 2.06(c) thereof, with regard to any amendment of this Letter of Credit for the purpose of extending the Stated Expiration Date and except for Rule 5.01(a) thereof, with regard to any notice of dishonor which shall be given to you in the manner set forth above. Except as to matters governed by the ISP98, this Letter of Credit shall be governed by and construed in accordance with Article 5 of the Uniform Commercial Code of the State of New York. All payments made by us hereunder shall be made from our funds and not with the funds of any other person. This Letter of Credit sets forth in full the terms of our undertaking, and such undertaking shall not in any way be modified or amended by reference to any other document whatsoever. Very truly yours, JPMORGAN CHASE BANK, NATIONAL ASSOCIATION By ____________________________________ Its __________________________________ Page 4 of 25
JPMorgan Chase Bank, National Association 300 South Riverside Plaza Mail Code IL1-0236 Chicago, Illinois 60606-0236 Facsimile Number: (312) 954-6163 Alternate Facsimile Number: (312) 954-3140 Attention: Standby Letter of Credit Unit Ladies and Gentlemen: EXHIBIT A TO JPMORGAN CHASE BANK, NATIONAL ASSOCIATION LETTER OF CREDIT NOTICE OF CONVERSION DATE NO. CPCS-777577 [Date] Reference is hereby made to that certain Irrevocable Transferable Letter of Credit No. CPCS-777577 dated February 10, 2010 (the “Letter of Credit”), which has been established by you for the account of the Airport Commission of the City and County of San Francisco, in favor of the Trustee. The undersigned hereby certifies and confirms that on [insert date] the interest rate on the Bonds has been converted to a rate other than the Weekly Rate, and, accordingly, said Letter of Credit shall terminate on ________, 20__, which is 15 days after such Conversion Date in accordance with its terms. All defined terms used herein which are not otherwise defined herein shall have the same meaning as in the Letter of Credit. _____________________________, as Trustee Page 5 of 25 By ___________________________________ [Title of Authorized Representative]
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SAN FRANCISCO INTERNATIONAL AIRPORT
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2010A BONDS MATURITY SCHEDULE The i
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Information Provided by the Commiss
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Page Page VERIFICATION OF MATHEMATI
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The 2010A Bonds will be secured by
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Maturity Date (May 1) 2011 2012 201
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Interest on the 2010A Bonds will be
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Mandatory Sinking Fund Redemption T
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Redemption of Credit Provider Bonds
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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
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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
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Introduction APPENDIX B INFORMATION
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APPENDIX C SUMMARY OF CERTAIN PROVI
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Closing Date means the date upon wh
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Interest Payment Date means each da
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the Trustee for cancellation; (b) B
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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 and 210: APPENDIX H JPMORGAN CHASE BANK, NAT
Page 211: The Available Amount (as hereinafte
Page 215 and 216: 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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