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

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2010A BONDS MATURITY SCHEDULE The initial interest rate established by the Commission for the 2010A Bonds will apply to the period commencing on their date of issuance to and including the applicable initial Rate Determination Date specified below. Thereafter, the 2010A Bonds will bear interest at a Weekly Rate determined by the applicable Remarketing Agent, as described in this Official Statement, subject to certain conditions and exceptions. Interest on the 2010A Bonds will be payable on each Interest Payment Date. The initial Interest Payment Dates and Rate Determination Dates for the 2010A Bonds are set forth below. See “DESCRIPTION OF THE 2010A BONDS–Weekly Mode Provisions.” Rate Principal Maturity Date Initial Interest Determination Series Amount (May 1) (1) Mode Payment Date Date Remarketing Agent CUSIP No. (2) 2010A-1 $86,375,000 2030 Weekly First Business Day of each Tuesday Barclays Capital Inc. 79765A3K0 calendar month, commencing March 1, 2010 2010A-2 $57,595,000 2030 Weekly First Business Day of each Tuesday Morgan Keegan & Company, Inc. 79765A3L8 calendar month, commencing March 1, 2010 2010A-3 $72,000,000 2030 Weekly First Business Day of each Tuesday RBC Capital Markets Corporation 79765A3M6 calendar month, commencing March 1, 2010 _______________ (1) The 2010A Bonds are subject to mandatory sinking fund redemption. See “DESCRIPTION OF THE 2010A BONDS–Redemption Provisions–Mandatory Sinking Fund Redemption.” (2) Copyright 2010, American Bankers Association. CUSIP data herein is provided by Standard and Poor’s, CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. This data is not intended to create a database and does not serve in any way as a substitute for the CUSIP Service. CUSIP numbers are provided for convenience of reference only. None of the Commission or the Underwriters take any responsibility for the accuracy of such CUSIP numbers.
CITY AND COUNTY OF SAN FRANCISCO Gavin Newsom, Mayor Dennis J. Herrera, City Attorney Benjamin Rosenfield, Controller José Cisneros, Treasurer AIRPORT COMMISSION Larry Mazzola, President Linda S. Crayton, Vice President Richard J. Guggenhime Caryl Ito Eleanor Johns John L. Martin, Airport Director BOARD OF SUPERVISORS OF THE CITY AND COUNTY OF SAN FRANCISCO David Chiu, District 3, President Michela Alioto-Pier, District 2 Bevan Dufty, District 8 John Avalos, District 11 Sean Elsbernd, District 7 David Campos, District 9 Sophie Maxwell, District 10 Carmen Chu, District 4 Eric Mar, District 1 Chris Daly, District 6 Ross Mirkarimi, District 5 CONSULTANTS AND ADVISORS TRUSTEE The Bank of New York Mellon Trust Company, N.A. Los Angeles, California CO-FINANCIAL ADVISORS CO-BOND COUNSEL Public Financial Management, Inc. Orrick, Herrington & Sutcliffe LLP San Francisco, California San Francisco, California Backstrom McCarley Berry & Co., LLC Ronald E. Lee, Esq. San Francisco, California Davis, California Robert Kuo Consulting, LLC DISCLOSURE COUNSEL San Francisco, California Lofton & Jennings San Francisco, California Castleton Partners, LLC New York, New York AUDITOR KPMG LLP San Francisco, California VERIFICATION AGENT Grant Thornton LLP Minneapolis, Minnesota i
Page 1: SAN FRANCISCO INTERNATIONAL AIRPORT
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
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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
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Special Facility means any existing
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Revenue Fund; Allocation of Net Rev
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Moneys in the respective accounts i
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Investments are allocated. Amounts
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Subordinate Bonds The Commission ma
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act or thing the effect of which wo
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filing of any such petition or to t
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moneys, funds and properties pledge
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The recitals, statements and repres
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The Trustee or the Paying Agent, as
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to or greater than the Credit Facil
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(a) such 2010A Bonds sold by the Re
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The Remarketing Agent The Remarketi
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APPENDIX D SUMMARIES OF CERTAIN PRO
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computations made in accordance wit
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APPENDIX E SUMMARY OF CERTAIN PROVI
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statement, it must be available fro
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Duties, Immunities and Liabilities
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APPENDIX F INFORMATION REGARDING TH
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Ambac Assurance’s consolidated fi
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Capitalization of AGM At September
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The available amount of each MBIA s
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complaint also alleges that certain
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APPENDIX G PROPOSED FORM OF OPINION
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APPENDIX H JPMORGAN CHASE BANK, NAT
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The Available Amount (as hereinafte
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JPMorgan Chase Bank, National Assoc
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IN WITNESS WHEREOF, this Certificat
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(ii) $_______________________ is de
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The undersigned Transferor acknowle
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The Bank of New York Trust Company,
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The Bank of New York Trust Company,
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