A letter dated October 24, 2016, from Brendan J. Hanlon, Chief Financial Officer, in keeping with the provisions of Section 20-93 of the Denver Revised Municipal Code (the “DRMC”), notifying of the Department of Finance’s intent to issue Airport System Revenue Bonds, Series 2016A and Series 2016B, for an on behalf of its Department of Aviation, in an amount not to exceed $308.5 million and $115 million, respectively, for the of purpose of refunding various series of existing Airport bonds.
The delegation will be returning on October 27. Straight. See no other announcements. Presentations. Madam Secretary, do we have any presentations? None. Mr. President. Communications. Madam Secretary, do we have any communications? Yes. Dear Counsel. President. In keeping with the provisions of Section 20, Dash 93 of the Denver revised Mr. Code, DRC, I'm hereby notifying you the Department of Finance's intent to issue airport system revenue bonds series 2016 and Series 2016 B for and on behalf of his Department of Aviation, an amount not to exceed 308.5 million and 115 million respectively, for the purpose of refunding various series of existing airport bonds. The series 2016 bonds will be issued as fixed rate senior lien obligations with final maturity of 2032 series 2016 bonds will be issued as floating rate notes with a final maturity date of 2031. Neither the series 2016 or 2016 B bonds will exceed the original term of the bonds being refunded. City has, by ordinance designated the Department of Aviation as an enterprise within the meaning of the TABOR Amendment to the Colorado State Constitution Series 2016 and Series 2016. B Bonds are special obligations of the city for and on behalf of the Department of Aviation, payable solely from and secured by applied to the net revenues of the airport system. Neither the full faith and credit nor the taxing power of the city will be pledged and payment of the series 2016 and 2016 bonds keeping with the intent 20 Dash 93 Plan B The Dear Emcee President of Council will be notified promptly of any material change. Company attachment contains a more detailed description of the financing. I do not anticipate formally communicating technical changes in the financing. Sincerely. Brendan J. Hanlon Chief Financial Officer, Manager of Finance.