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Airport Revenue Bond Issuance (BB 51)

At a glance

  • What: Board Bill 51 (committee substitute 51CS), sponsored by Cohn and recommended by the Board of Estimate and Apportionment, authorizes the issuance and sale of Airport Revenue Bonds of up to $500,000,000 to refund all or part of the city's subordinated debt (interim financing and refinancing for airport acquisition, expansion, construction, renovation and equipping) and to finance airport improvements. It provides for debt service reserve and capitalized interest funds, costs of issuance, a trustee and the needed documents, repeals inconsistent prior ordinances, and carries severability and emergency clauses.
  • Where it stands: Passed. Perfected on the consent calendar October 2, 2026 (President Green added as co-sponsor) and finally passed October 9 on the consent calendar, 14 aye, 0 no. Delivered to the Mayor October 9 (Clerk's report, October 16).
  • Scale: The Transportation and Commerce Committee was told on September 24 that about $375 million of projects were planned with an estimated issue of $434 million or more; the ordinance sets the ceiling at $500 million.
  • Related: Airport Enterprise Leasing Agreement Amendments (BB 92-93).

Sources

Log

2026-10-16 - Board of Aldermen

Minutes: the Clerk reported BB 51CS finally passed and delivered to the Mayor on October 9.

2026-10-09 - Board of Aldermen

Minutes: third reading and final passage on the consent calendar (moved by Clark Hubbard, seconded by Sonnier), 14 aye, 0 no; signed by the President.

2026-10-02 - Board of Aldermen

Minutes: perfected on the consent calendar by voice vote (moved by Clark Hubbard, seconded by Keys); President Green added as co-sponsor; the President directed it to the Legislation and Rules Committee.

2026-09-25 - Board of Aldermen

Reported out of committee with a do-pass recommendation.

2026-09-24 - Transportation and Commerce Committee

Presentation by the financial advisor and co-bond counsel: about $375 million of projects, estimated issue of $434 million or more, indenture changes (common reserve fund, rolling coverage account). Committee substitute adopted and passed out with a do-pass recommendation; the Comptroller's office will report back on energy efficiency and drainage questions.