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Council approves TEFRA resolution, moves ahead on $105.7 million airport bonds to expand terminal and rental‑car facility
Summary
Council adopted a resolution required for tax‑exempt bond issuance and authorized a bond ordinance to fund a new concourse, terminal expansion and a quick turnaround rental‑car facility; staff said conservative financial modeling and airline participation support feasibility.
The council approved a TEFRA‑compliance resolution and authorized an ordinance to issue up to $105.7 million in full faith and credit bonds for airport projects, including a portion of a new terminal concourse and a quick turnaround rental‑car facility (QTA).
Jason Neff and Airport Director Zach Bass presented project scope, financing structure and conservative revenue projections. The $105.7 million request includes roughly $90 million allocated to the terminal portion included in this issuance, $5 million for the QTA, up to $700,000 in issuance costs and $10 million set…
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