Resolution 26-02, Municipal Financing Page Two
• Concourse B Projects – Roof Replacement, Passenger Movement Modernization (Terminal Vestibule Doors, Elevators, Escalators, Moving Walkways) The projects and the PFC backed bonds are expected to receive approval from the Federal Aviation Administration in summer 2026. The $130 million limit contained in the resolution is based on forecasts submitted by the Maryland Aviation Administration (MAA). The Executive Director and Chief Financial Officer (CFO) will have the authority to manage the bond sale and closing, including the award of the 2026 bonds to the successful underwriting firm(s) or negotiation of terms for a private placement. The resolution also provides for authority to select other service providers and to prepare and execute all closing documents, certificates, and bond forms. Resolution 26-02 contains the following limiting and reporting provisions: 1. Par Amount – Limited to $130 million. 2. Final Maturity Date, Refinancing Bonds – In compliance with IRS regulations, no later than the final June 1, 2034 maturity date of the Series 2014 bonds. 3. Bond Sale Date – No later than December 31, 2026. 4. Bond Sale Reports on Results – Provided by the Executive Director and CFO at the first Board meetings after the sale date. RECOMMENDATION Approve the Municipal Financing Resolution 26-02. ATTACHMENTS
• Series 2012A Amortization Table • Series 2014 Amortization Table • Series 2012A/2014 Refinancing Savings Example • Board Resolution 26-02, Municipal Financing
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