Ratemaking Overview

Settlement & True-Up

Not available

Landing Fee Methodology

Not available

Terminal Rental Rate

Not available

Common Use & Gate Allocation

Additional Bonds Test

City must demonstrate: (i) no default and Net Revenues at least equal to 125% of Debt Service Requirements for preceding 12 months; (ii) either (a) Consultant's Report showing projected Net Revenues will be at least 125% of Debt Service Requirements on outstanding and proposed bonds for at least 5 fiscal years, or (b) City certificate that Net Revenues for any 12 consecutive months in preceding 24 months were sufficient to pay 125% of Debt Service Requirements on outstanding and proposed bonds; and (iii) each additional obligation secured by cash reserve or Reserve Account Credit Enhancement equal to Reserve Requirement. City may adjust Net Revenues for rate changes adopted prior to issuance and operational facilities.

Rate Covenant

Net Revenues (Revenues minus Operation and Maintenance Expenses) at least equal to 125% of the Aggregate Debt Service Requirements for the applicable Fiscal Year

Flow of Funds

On or before three days prior to each March 1 and September 1, City shall pay to Trustee for deposit in Bond Fund an amount from Net Revenues sufficient to pay interest and principal then coming due on Series 2021 Bonds. Indenture also provides for establishment of Costs of Issuance Fund, Rebate Fund, and Reserve Fund.