Ratemaking Overview

Settlement & True-Up

Not available

Landing Fee Methodology

Not available

Terminal Rental Rate

Not available

Common Use & Gate Allocation

Additional Bonds Test

Three conditions: (1) Historical test: Revenues for prior 12 months must have equaled amounts required for debt service, O&M, City/County reimbursements, and other obligations (excess revenues from prior periods carried forward count); (2) Interim test: Consultant estimates Revenues sufficient from delivery date to project placed in service to cover all obligations; (3) Forward-looking test: Consultant estimates Net Revenues in each of the three Fiscal Years following project placed in service shall equal not less than 125% of Debt Service Requirement on all Bonds including Additional Bonds.

Rate Covenant

The Authority covenants to impose rates, rentals, fees and charges that will yield Net Revenues in an amount at least equal to 125% of the Debt Service Requirement on all Airport Revenue Bonds. Net Revenues = Revenues minus Costs of Operation and Maintenance. Debt Service Requirement = principal, interest, and premium (if any) on Airport Revenue Bonds when due, plus payments to City/County for their bonds issued for Airport, plus all other claims payable from Revenues.

Flow of Funds

From Revenue Fund: First - O&M Expenses; Second - deposits to Airport Improvement Bond Fund (Interest Account, Serial Principal Account, Sinking Fund Account, Debt Service Reserve Account); Third - payments to City/County for their bonds issued for Airport (if any); Fourth - remaining funds for any lawful purpose of Authority.