STRATEGIC PRIORITY: Transportation & Infrastructure
AGENDA DATE: February 12, 2025
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Government Affairs
EXECUTIVE: Elizabeth Saab
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SUBJECT
Title
Approval and adoption of the Seventieth and Seventy-First Supplemental Concurrent Bond Ordinances amending the Master Bond Ordinance relating to Dallas Fort Worth International Airport (DFW) Joint Revenue Bonds, which will authorize the issuance of new debt not to exceed $3 billion for the period beginning March 1, 2025 and ending February 28, 2026, set parameters for bond sales, and authorize the use of bond proceeds to refund DFW’s outstanding commercial paper - Financing: No cost consideration to the City
Body
BACKGROUND
DFW is seeking approval of two new bond ordinances from the Owner Cities of Dallas and Fort Worth for DFW’s 2025 debt management plan. Approval of the ordinances will authorize DFW to issue up to $3 billion of debt for the period beginning March 1, 2025 and ending February 28, 2026.
Proceeds from the issuance of debt will be used to fund capital programs, including the Central Terminal Area Expansion Program and Terminal F. The ordinances further authorize the use of bond proceeds to refund DFW’s outstanding commercial paper. Approval of these ordinances will ensure timely availability of funds for DFW’s capital programs.
Action item Amount Summary
70th Supplemental Bond $3 billion This is DFW’s annual debt financing
Ordinance request. It authorizes DFW to issue
up to $3 billion of new bonds for DFW’s capital programs.
71st Supplemental Bond Commercial paper This is DFW’s annual request to
Ordinance refunding authorize refunding of commercial
paper with bond proceeds.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On December 5, 2024, the Dallas-Fort Worth International Airport Board approved the Seventieth and Seventy-first Supplemental Bond Ordinances
On January 21, 2025, the Government Performance and Financial Management Committee approved the Dallas Fort Worth International Airport Supplemental Bond Ordinances.
FISCAL INFORMATION
No cost consideration to the City.