This resolution approves a new Trust Indenture for managing San Francisco International Airport's revenue bonds, replacing an older resolution. It also establishes guidelines for future bond issues related to the airport.
Resolution approving the Trust Indenture to replace, succeed and supersede Resolution No. 91-0210, as supplemented and amended, with respect to outstanding and future issues of San Francisco International Airport Second Series Revenue Bonds; approving a Form of Series Indenture with respect to San Francisco International Airport Second Series Revenue Bonds; and approving certain other matters related to the implementation of the Trust Indenture and, from time to time, Series Indentures, as defined herein.
How it got here
The legislation originated from the need to consolidate and update the San Francisco International Airport's bond issuance framework.
The Airport Commission adopted Resolution No. 91-0210, which provided for the issuance of San Francisco International Airport Second Series Revenue Bonds.
The Airport Commission adopted Resolution No. 24-0221, authorizing a new Trust Indenture to replace the 1991 Resolution and streamline the bond issuance process.
The Airport Commission submitted the new Trust Indenture and Series Indenture to the Board of Supervisors for approval.
The Budget and Finance Committee recommended the resolution for approval by the Board of Supervisors.
The Board of Supervisors adopted the resolution approving the Trust Indenture and Series Indenture.
The Mayor approved the resolution, finalizing the legislative process.
Reconstructed from attached documents & the official record
