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

More documents

Recommendations

Info

Fifth, to pay for necessary reconstruction and replacement of Airport facilities; Sixth, to acquire real property for the construction or improvement of Airport facilities; Seventh, to repay to the City’s General Fund any sums paid from tax moneys for principal of and interest on any general obligation bonds previously issued by the City for Airport purposes; and Eighth, for any other lawful purpose of the Commission, including without limitation transfer to the City’s General Fund on an annual basis of up to 25% of the non-airline revenues as a return upon the City’s investment in the Airport. However, the Lease Agreements further limit payments from the Airport Revenue Fund into the General Fund of the City to the greater of (i) 15% of “Concessions Revenues” (as defined in the Lease Agreements) and (ii) $5 million per year. The Settlement Agreement provides that this Annual Service Payment to the City includes the total transfer to the City’s General Fund contemplated by this Charter provision. See “RECENT DEVELOPMENTS–Payments to the City.” The 1991 Master Resolution establishes the following accounts within the Airport Revenue Fund: the Revenues Account, the Operation and Maintenance Account, the Revenue Bond Account, the General Obligation Bond Account, the General Purpose Account, and the Contingency Account. Under the 1991 Master Resolution, all Revenues are required to be set aside and deposited by the Treasurer in the Revenues Account as received. Each month, moneys in the Revenues Account are set aside and applied as follows: First: to the Operation and Maintenance Account, the amount required to pay Airport Operation and Maintenance Expenses; Second: to the Revenue Bond Account, the amount required to make all payments and deposits required in that month for the Bonds and any Subordinate Bonds, including amounts necessary to make any parity Swap Payments to a Swap Counterparty (see “AIRPORT’S FINANCIAL AND RELATED INFORMATION–Interest Rate Swaps”); Third: to the General Obligation Bond Account, the amount required to pay the principal of and interest on general obligation bonds of the City issued for Airport purposes (there are no general obligation bonds outstanding for Airport purposes); Fourth: to the General Purpose Account, the amount estimated to be needed to pay for any lawful purpose, including any subordinate Swap Payments payable in connection with the termination of the Swap Agreements (see “AIRPORT’S FINANCIAL AND RELATED INFORMATION–Interest Rate Swaps”); and Fifth: to the Contingency Account, such amount as the Commission shall direct. (Remainder of this Page Intentionally Left Blank) 16
Flow of Funds Chart The Flow of Funds Chart below sets forth a simplified graphic presentation of the allocation of amounts on deposit in the Airport Revenue Fund each month. It is provided solely for the convenience of the reader and is qualified in its entirety by reference to the statements under the caption “–Flow of Funds.” FLOW OF FUNDS CHART REVENUES ACCOUNT Deposit of all pledged Revenues First: OPERATION AND MAINTENANCE ACCOUNT Payment of Airport Operation and Maintenance Expenses, required payments to pension and compensation funds and reserves Second: REVENUE BOND ACCOUNT All payments and deposits required monthly for the Bonds, any Subordinate Bonds, and parity Swap Payments to a Fixed Rate Swap Counterparty a b c DEBT SERVICE FUND RESERVE FUND SUBORDINATE BONDS, DEBT SERVICE AND RESERVE FUNDS Third: GENERAL OBLIGATION BOND ACCOUNT Payment of the principal of and interest on general obligation bonds of the City issued for Airport purposes Fourth: GENERAL PURPOSE ACCOUNT Payment for any lawful purpose, including Annual Service Payments to the City, subordinate Swap Payments relating to termination of Swap Agreements, necessary reconstruction and replacement of Airport facilities, acquisition of real property for construction or improvement of Airport Facilities Fifth: CONTINGENCY ACCOUNT Deposit and transfer of such amounts as the Commission shall direct PASSENGER FACILITY CHARGES To the extent designated as Revenue by the Commission For a detailed description of the transfers and deposits of Revenues, see APPENDIX C–“SUMMARY OF CERTAIN PROVISIONS OF THE 1991 MASTER RESOLUTION–Revenue Fund; Allocation of Net Revenues.” 17
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 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 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 215 and 216:
Page 217 and 218:
Page 219 and 220:
IN WITNESS WHEREOF, this Certificat
Page 221 and 222:
(ii) $_______________________ is de
Page 223 and 224:
Page 225 and 226:
Page 227 and 228:
The undersigned Transferor acknowle
Page 229 and 230:
The Bank of New York Trust Company,
Page 231 and 232:
Page 233 and 234:
The Bank of New York Trust Company,
show all

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

Create successful ePaper yourself

Delete template?

Save as template?