PILLAR: Core - Organizational Support
AGENDA DATE: April 8, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Government Affairs
PRIORITY: Transportation
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SUBJECT
Title
Approval and adoption of the amended and restated Master Bond Ordinance of the Dallas Fort Worth International Airport to add contemporary legal provisions and language supporting the use of new debt instruments - Financing: No cost consideration to the City
Body
BACKGROUND
The 1968 Regional Airport Concurrent Bond Ordinance was originally created in 1968 and authorized the initial bonds issued by the Owner Cities for the purpose of financing the Airport and establishing the terms and provisions for additional bonds that would be issued for the purposes of the Airport. The 1968 Ordinance was supplemented by Supplemental Ordinances over time. In 2010, the 1968 Ordinance and the Thirtieth Supplemental concurrent Bond Ordinance were amended and restated by the Master Bond Ordinance (MBO).
The purpose for amending and restating the MBO to add more contemporary language to provisions allowing the use of new debt instruments such as ballon obligations, which are widely used by other large municipal issuers and which could potentially reduce may reduce interest expenses, and to update definitions and certain other provisions.
The terms of the Amended and Restated MBO will not become effective until 51 percent of outstanding bondholders have purchased bonds under the Amended and Restated Master Bond Ordinance, which will take several years.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On March 5, 2026, the DFW Airport Board approved these items.
The Committee on Finance was briefed by memorandum on this item on March 24, 2026. <https://dallascityhall.com/government/citymanager/Documents/Council%20Materials/L.%20DFW%20Bonds%20approval%20032426.pdf>
FISCAL INFORMATION
No cost consideration to the City.