STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: May 12, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Government Affairs
EXECUTIVE: Kimberly Bizor Tolbert
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SUBJECT
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A resolution authorizing an amendment to the Dallas Fort Worth International Airport Master Bond Ordinance, the 61st Supplemental Concurrent Bond Ordinance - Financing: No cost consideration to the City
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BACKGROUND
The Dallas Fort Worth International Airport Board (“the Board”) requests the owner cities of Dallas and Fort Worth to approve a Supplemental Concurrent Bond Ordinance (“SBO”) to facilitate the Airport's financing needs.
The 61st SBO is the annual request to provide DFW with the ability to refund commercial paper with long term bonds. The program approved by the Owner Cities in 2019 requires the Airport to request this authorization annually.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On April 1, 2021, the DFW Board of Directors passed the 61st SBO.
The Government Performance and Financial Management Committee was briefed by DFW on the “DFW International Airport FY 2021 Debt Financing Summary” on April 26, 2021.
FISCAL INFORMATION
No cost consideration to the City.