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Committee hears Dallas-Fort Worth International Airport request to authorize debt issuance
Summary
A representative from Dallas Fort Worth International Airport briefed the committee on a multi-billion-dollar debt program and requested Dallas' routine authorization for upcoming issuances; the committee did not act before adjournment.
A representative of Dallas Fort Worth International Airport told the Government Performance and Financial Management Committee on Jan. 28 that the airport is in the middle of a multibillion-dollar program and asked the committee to authorize resolutions enabling future debt issuance and commercial paper draws.
The representative said the airport is working on a $9,000,000,000 program and asked for authorization for up to $3,000,000,000 in issuances over the next year, and authority to access its commercial paper program if needed. The committee was told these are routine requests that both Dallas and Fort Worth approve as a normal part of the airports' financing activity; staff said the item will appear on the council agenda in the coming weeks.
Committee members had no substantive questions and did not take formal action at the special-called meeting. The briefing was described by staff as an annual routine presentation tied to planned debt issuances and to satisfy local approval requirements prior to council consideration.
