Indianapolis Airport Authority approves bond ordinance, FTZ operator agreements and hotel owner’s‑rep extension

The Indianapolis Airport Authority board on April 18, 2025 approved a mandatory supplemental ordinance to amend the authority’s bond documents and adopted a series of contracts and resolutions needed to support upcoming financing, construction and operations work at Indianapolis International Airport.

The action items included dedicating passenger facility and customer facility charge revenues to debt service for the forthcoming bond issue, approval of two foreign‑trade‑zone (FTZ) operator agreements, awards and amendments for multiple construction and maintenance contracts, a new valet service agreement, a Microsoft licensing agreement, an ARFF (Aircraft Rescue and Fire Fighting) truck foam conversion project, and a one‑month extension of hotel project professional services to provide owner’s‑representative coverage prior to a full contract.

Why it matters: the bond‑related ordinance and the irrevocable dedication of PFC/CFC revenues affect the authority’s ability to structure and market a revenue bond issue; FTZ approvals and contract awards influence local jobs and private investment in nearby industrial sites; the ARFF foam conversion addresses environmental and firefighter‑safety requirements; and the hotel owner’s‑rep extension advances a major terminal‑connected hotel project.

What the board approved

- Bond ordinance: The board held a public hearing and then adopted General Ordinance No. 01‑2025, a mandatory supplemental ordinance amending General Ordinance No. 5‑2014 and General Ordinance No. 4‑2024 related to the authority’s bond documents. The public hearing drew no public commenters and the board adopted the ordinance by roll call.

- Dedication of PFC/CFC revenues: The board approved an irrevocable dedication of passenger facility charge and customer facility charge revenues to pay debt service on outstanding revenue bonds for fiscal years 2026–2030 to support the planned bond issue.

- Human Resources Committee charter language (Resolution 03‑2025): The board adopted a Human Resources Committee charter amendment to clarify that compensation studies will be conducted every 24–36 months and that the committee may retain and approve terms for compensation consultants. Rachel Stevens presented the item and said the…