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Public Hearing - Proposed Commercial Paper Notes

  • Date: 07/16/2019 11:00 AM - 1:00 PM

City-of-Atlanta-Seal-Resurgens-1.3 (2)

NOTICE OF PUBLIC HEARING ON PROPOSED COMMERCIAL PAPER NOTES TO BE ISSUED BY THE CITY OF ATLANTA, GEORGIA WITH RESPECT TO HARTSFIELD-JACKSON ATLANTA INTERNATIONAL AIRPORT

     Notice is hereby given that the City of Atlanta (the “City”) will hold a Public Hearing at 11:00 o’clock a.m., on July 16, 2019 at the City of Atlanta, Department of Finance, 68 Mitchell Street SW, 11th Floor Conference Room, Atlanta, Georgia 30303, which hearing may be continued or adjourned, concerning the issuance of commercial paper notes by the City for the purpose of financing or refinancing certain improvements to a facility owned and operated by the City at Hartsfield-Jackson Atlanta International Airport located at 6000 North Terminal Parkway, Atlanta, Georgia 30320 and adjacent jurisdictions (the “Airport”), pursuant to the City’s plan of finance.  The City intends to issue commercial paper notes in one or more series, from time to time, in an aggregate amount estimated not to exceed $950,000,000 to provide financing or refinancing for (A) the costs of the planning, engineering, design, acquisition and construction of certain improvements to the Airport as described in the ATL Next Plan, which is derived from the 2015 Hartsfield-Jackson Atlanta International Airport Master Plan, as amended and supplemented from time to time, consisting of (i) airfield and airside improvements, including the construction a new south side deicing facility, (ii) terminal modernization and capacity improvements, including renovations to curbside facades, vestibules, entry doors and check-in and baggage claim lobbies, installation of clerestory windows, construction of tubular steel canopies, construction of four pedestrian bridges with elevators and escalators, Course T-North Extension improvements, including the construction of five ADG III gates and approximately 100,000 square feet of new concourse space, fire life safety compliance improvements, terminal renewal and replacement projects, including central utility plants, electric unit substations, and elevator and escalator improvements, and Plain Train extension improvements, including extension of the current track system, the purchase of additional cars and replacement cars, and system switch refurbishment, and (iii) landside improvement projects, including renovations and replacement of the existing North and South domestic terminal parking decks, the construction of a six-level parking garage providing approximately 5,790 spaces on the west side of the domestic terminal, and the development of open, public, transition space on the west side of the domestic terminal; and (B) the costs of issuing the commercial paper notes.

     The hearing will be held before John Gaffney, Deputy Chief Financial Officer, City of Atlanta, in his capacity as Hearing Officer or such alternate hearing officer as may be designated by the City and may be continued or adjourned.

     The commercial paper notes, when and if issued, will be limited obligations of the City and will not constitute a general obligation of the State of Georgia or the City, nor shall the commercial paper notes be payable in any manner by taxation, but are payable solely from the general revenues of the Airport or from other lawful sources.  The hearing is required by Federal law because certain of the revenue bonds of the City to be issued will be treated as private activity bonds.

     Further information regarding the proposed plan of issuing the commercial paper notes or plan of finance, are of public record in the office of the City of Atlanta Department of Finance, 68 Mitchell Street, SW, Atlanta, Georgia 30303.

     Any interested person having views on the proposed issuance of the revenue bonds or the plan of finance may be heard at the Public Hearing.

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