Official Statement Airport Commission City and County of San ...
Official Statement Airport Commission City and County of San ...
Official Statement Airport Commission City and County of San ...
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Flow <strong>of</strong> Funds Chart<br />
The Flow <strong>of</strong> Funds Chart below sets forth a simplified graphic presentation <strong>of</strong> the allocation <strong>of</strong> amounts on<br />
deposit in the <strong>Airport</strong> Revenue Fund each month. It is provided solely for the convenience <strong>of</strong> the reader <strong>and</strong> is<br />
qualified in its entirety by reference to the statements under the caption “–Flow <strong>of</strong> Funds.”<br />
FLOW OF FUNDS CHART<br />
REVENUES ACCOUNT<br />
Deposit <strong>of</strong> all pledged Revenues<br />
First:<br />
OPERATION AND MAINTENANCE ACCOUNT<br />
Payment <strong>of</strong> <strong>Airport</strong> Operation <strong>and</strong> Maintenance Expenses, required payments to<br />
pension <strong>and</strong> compensation funds <strong>and</strong> reserves<br />
Second:<br />
REVENUE BOND ACCOUNT<br />
All payments <strong>and</strong> deposits required monthly for the Bonds, any Subordinate<br />
Bonds, <strong>and</strong> parity Swap Payments to a Fixed Rate Swap Counterparty<br />
a<br />
b<br />
c<br />
DEBT SERVICE FUND<br />
RESERVE FUND<br />
SUBORDINATE BONDS, DEBT<br />
SERVICE AND RESERVE FUNDS<br />
Third:<br />
GENERAL OBLIGATION BOND ACCOUNT<br />
Payment <strong>of</strong> the principal <strong>of</strong> <strong>and</strong> interest on general obligation bonds <strong>of</strong> the <strong>City</strong><br />
issued for <strong>Airport</strong> purposes<br />
Fourth:<br />
GENERAL PURPOSE ACCOUNT<br />
Payment for any lawful purpose, including Annual Service Payments to the <strong>City</strong>,<br />
subordinate Swap Payments relating to termination <strong>of</strong> Swap Agreements,<br />
necessary reconstruction <strong>and</strong> replacement <strong>of</strong> <strong>Airport</strong> facilities, acquisition <strong>of</strong> real<br />
property for construction or improvement <strong>of</strong> <strong>Airport</strong> Facilities<br />
Fifth:<br />
CONTINGENCY ACCOUNT<br />
Deposit <strong>and</strong> transfer <strong>of</strong> such amounts as the <strong>Commission</strong> shall direct<br />
PASSENGER FACILITY CHARGES<br />
To the extent designated as<br />
Revenue by the <strong>Commission</strong><br />
For a detailed description <strong>of</strong> the transfers <strong>and</strong> deposits <strong>of</strong> Revenues, see APPENDIX C–“SUMMARY OF<br />
CERTAIN PROVISIONS OF THE 1991 MASTER RESOLUTION–Revenue Fund; Allocation <strong>of</strong> Net Revenues.”<br />
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