Board of Airport Commissioners

RESOLUTION NO.      - Issuance of Department of Airports of the City of Los Angeles, California, Los Angeles International Airport Long- and Short-term Revenue Bonds, Notes, or Other Obligations and Special Facility Obligations, in one or more series, in an aggregate principal amount not to exceed $3 billion:  And authorization to sell, by private sale and/or competitive sale, such bonds, notes, and obligations; to utilize direct purchases and private placement with lending institutions with respect to such bonds, notes, and other obligations; to incur loans and obtain loan guarantees from the federal government with respect to such bonds, notes, and other obligations; and to prepare all related documentation and certain other related matters and actions \nPURPOSE: The purpose of the request is to approve the actions associated with issuance of Department of Airports of the City of Los Angeles, California (Department), Los Angeles International Airport long- and short-term revenue bonds, notes, or other obligations and special facility obligations, in one or more series, in an aggregate principal amount not to exceed $3 billion, which the Department expects to issue from time to time, from Fiscal Year 2024 through Fiscal Year 2028. \nRECOMMENDATIONS: Adoption of the Report requesting that the Board of Airport Commissioners further adopt the resolution (attached to the staff report); determine that this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Article II, Section 2.f of the Los Angeles City CEQA Guidelines; authorize issuance of long- and short-term airport revenue bonds, notes, or other obligations (airport revenue bonds), in one or more series, and special facility obligations in one or more series, in an aggregate principal amount not to exceed $3 billion, which the Department of Airports expects to issue, from time to time, from Fiscal Year 2024 through Fiscal Year 2028; further authorize the negotiated sale of the airport revenue bonds and special facility obligations in accordance with City of Los Angeles Charter Section 609 (d); further authorize utilization of liquidity and credit facilities, revolving lines of credit, direct purchases, and private placements to lending institutions with respect to such airport revenue bonds and special facility bonds; further authorize incurring loans from the federal government, the repayment of which will be evidenced by airport revenue bonds or special facility bonds, and obtaining loan guarantees from the federal government with respect to such airport revenue bonds and special facility bonds; and further authorize preparation of all documents and other matters related to the negotiated sale of the airport revenue bonds and special facility obligations, the competitive sale of the airport revenue bonds and special facility obligations, the direct purchase or private placement of the airport revenue bonds with a lending institution (including revolving lines of credit), the procurement of liquidity and credit facilities to support the airport revenue bonds and special facility obligations, the incurrence of loans from the federal government, the repayment of which will be evidenced by airport revenue bonds or special facility bonds, and/or obtaining loan guarantees from the federal government with respect to the airport revenue bonds or the special facility bonds. (Tatiana Starostina)\n05 Report \n6.