Ratemaking Overview

Settlement & True-Up

Not available

Landing Fee Methodology

Not available

Terminal Rental Rate

Not available

Common Use & Gate Allocation

Additional Bonds Test

Among other requirements, the Airport Consultant must provide a written report setting forth projections which indicate that the estimated Net Revenues, together with the estimated Other Available Funds, of the Airport for each of three consecutive Fiscal Years are equal to at least 125% of the Debt Service Requirements on all Parity Bonds scheduled to occur during each such respective Fiscal Year after taking into consideration the additional Debt Service Requirements for the Additional Parity Bonds to be issued. In lieu of the certification, the City's Chief Financial Officer may provide a certificate showing that, for either the most recent complete Fiscal Year or for any consecutive 12 out of the most recent 18 months, the Net Revenues, together with Other Available Funds, were equal to at least 125% of the average annual Debt Service Requirements on all Parity Bonds.

Rate Covenant

Net Revenues must be at least sufficient to equal the larger of either: (i) all amounts required to be deposited in such Fiscal Year to any Fund or Account required by the Bond Ordinance, or (ii) an amount, together with Other Available Funds, not less than 125% of the Debt Service Requirements for the Parity Bonds for such Fiscal Year.

Flow of Funds

From Revenue Fund, application priority: (1) Operating Expenses – Pay first; (2) Debt Service – Principal and interest; (3) Debt Service Reserve – Maintain required level; (4) Coverage/Surplus – Build rolling coverage; (5) Renewal & Replacement – Capital maintenance fund; (6) Discretionary – Airport's use per grant assurances. PFC Revenues deposited to PFC Fund, then transferred monthly to PFC Debt Service Escrow Fund for PFC-approved bond debt service.