OPEN SESSION JUNE 11, 2026 PAGE THREE OF FIVE
Member von Paris called for a motion to recommend approval of this item to the full MDTA Board at its next scheduled meeting. Member Rosen made the motion, and Member Penny- Ardinger seconded the motion, which was unanimously approved. APPROVAL – FINANCING RESOLUTION 26-02, SERIES 2026 BWI PFC BONDS Mr. Yaw Berkoh requested a recommendation of approval to present MDTA Board Resolution 26-02, Series 2026 Baltimore/Washington International Thurgood Marshall Airport (BWI) Passenger Facility Charge (PFC) Bonds, to the full MDTA Board at its next scheduled meeting. Resolution 26-02 updates the previously approved Resolution 26-01 to add partial refinancings of the Series 2012 and 2014 bonds for economic savings. Resolution 26-02 authorizes the issuance of up to $130 million of bonds to finance a portion of capital projects for an approximate two-year period and to refinance portions of the Series 2012/2014 bonds for economic savings. The financing is expected during the second half of calendar 2026 and will be sized to account for the capital program, Passenger Facility Charge (PFC) revenues, bond premiums, debt service reserve funding, and costs of issuance. The updated resolution continues to authorize the issuance of new PFC backed bonds to finance a portion of BWI Airport capital projects in fiscal 2027 and 2028. The PFC revenue backed bonds are issued under a separate trust agreement and are solely secured by PFC revenues. Member von Paris called for a motion to recommend approval of this item to the full MDTA Board at its next scheduled meeting. Member Carroll made the motion, and Member Penny- Ardinger seconded the motion, which was unanimously approved. APPROVAL – FY 2027 FINAL OPERATING BUDGET Chantelle Green requested a recommendation of approval from the Finance and Administration Committee to present the proposed Final FY 2027 Operating Budget to the full MDTA Board at its next scheduled meeting. The proposed FY 2027 Final Operating Budget of $473.3 million represents $10.2 million, or a 2.2% increase versus the FY 2027 Preliminary Operating Budget. The key drivers of the increase are mandated personnel expenses, insurance costs, Maryland State Police overhead charges, delayed motor vehicle purchases, and MDTA Police equipment. These costs are partially offset by a reduction in large vehicle purchases that were expedited into FY 2026. Member von Paris called for a motion to recommend approval of this item to the full MDTA Board at its next scheduled meeting. Member Rosen made the motion, and Member Penny- Ardinger seconded the motion, which was unanimously approved.
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