Ratemaking Overview

Settlement & True-Up

Not available

Landing Fee Methodology

Not available

Terminal Rental Rate

Not available

Common Use & Gate Allocation

Additional Bonds Test

The Authority may issue additional Bonds and incur Parity Debt for specified purposes (construction/completion of any Additional Project, refunding/refinancing of any Bonds, Parity Debt or Subordinated Indebtedness), subject to compliance with specified requirements in the Bond Order.

Rate Covenant

Income Available for Debt Service must be not less than the greater of (i) 125% of the Long-Term Debt Service Requirement for Parity Indebtedness only, or (ii) 100% of the Long-Term Debt Service Requirement for Parity Indebtedness and Subordinated Indebtedness. Income Available for Debt Service means, generally, the excess of Revenues over Current Expenses, subject to certain adjustments.

Flow of Funds

All Receipts are deposited into the Revenue Fund. From the Revenue Fund: (1) Current Expenses are paid first, (2) then deposits are made into the Revenue Bond Fund for debt service. Bonds are payable from the Revenue Bond Fund. The Authority covenants that Receipts will be sufficient in each Fiscal Year to (i) pay Current Expenses, (ii) make deposits required by the Bond Order, and (iii) make deposits for Subordinated Indebtedness.