Denver International Airport

Ratemaking Overview

Settlement & True-Up

Mid-year adjustment

Extraordinary Coverage Protection (ECP)

Airlines may lease exclusive space; joint use facilities available for tug space and common use facilities; concourse ramp areas for parking and pushback

Landing Fee Methodology

Not available

Terminal Rental Rate

Net Terminal Complex requirement divided by total rentable square footage in Terminal Complex

Common Use & Gate Allocation

Additional Bonds Test

To issue Additional Senior Bonds, other than for any refunding of Senior Bonds, the City is required to obtain, among other things, a report of an Airport Consultant estimating the ability of the Airport System to meet the requirements of the Senior Rate Maintenance Covenant in each year of the forecast period, and a certificate of an Independent Accountant setting forth for the last audited Fiscal Year, or for any period of 12 consecutive calendar months out of the 18 calendar months next preceding the delivery of such series of Additional Senior Bonds, as determined by the Independent Accountant, (1) Net Revenues, together with any Other Available Funds, for such period and (2) the aggregate Debt Service Requirements for the Outstanding Senior Bonds, for such period; and demonstrating that for such period Net Revenues, together with any Other Available Funds, at least equaled the larger of either (A) the amount needed to make the required deposits to the credit of the several subaccounts in the Bond Fund for the Senior Bonds and to the credit of the Bond Reserve Fund for the Senior Bonds and the Operation and Maintenance Reserve Account or (B) an amount not less than 125% of the aggregate Debt Service Requirements for the Outstanding Senior Bonds for such period.

Rate Covenant

Gross Revenues, together with Other Available Funds (consisting of transfers from the Capital Fund to the Revenue Fund), will be at least sufficient to provide for the payment of Operation and Maintenance Expenses and for the greater of either: (1) the amounts needed for making the required cash deposits to the credit of several subaccounts of the Bond Fund (except the Redemption Account) and to the credit of the Bond Reserve Fund with respect to the Senior Bonds, and to the credit of several accounts and subaccounts of the Subordinate Bond Fund and the Operation and Maintenance Reserve Account, or (2) an amount equal to not less than 125% of the aggregate Debt Service Requirements on the Senior Bonds for the Fiscal Year.

Flow of Funds

Gross Revenues deposited into Revenue Fund. Priority waterfall: (1) Operation and Maintenance Expenses; (2) Debt Service on Senior Bonds (Interest Account, Principal Account, Sinking Fund Account, Redemption Account); (3) Bond Reserve Fund (Minimum Bond Reserve); (4) Subordinate Bonds Debt Service; (5) Subordinate Bonds Reserve; (6) Junior Lien Obligations; (7) Capital Fund (Coverage Account, Equipment and Capital Outlay Account, Airline Revenue Credit Account, Capital Improvement Account); (8) Discretionary uses.