19-R-4337
A RESOLUTION BY COUNCILMEMBER HOWARD SHOOK SUPPLEMENTING THAT CERTAIN TWENTY-FOURTH SUPPLEMENTAL BOND ORDINANCE (19-0-1352), ADOPTED BY THE ATLANTA CITY COUNCIL ON JULY 1, 2019 AND APPROVED BY THE MAYOR ON JULY 3, 2019, TO, AMONG OTHER THINGS, SET FORTH THE TERMS OF THE CITY OF ATLANTA (1) AIRPORT GENERAL REVENUE BONDS, SERIES 2019A (NON-AMT) (THE "SERIES 2019A BONDS"), (2) AIRPORT GENERAL REVENUE BONDS, SERIES 2019B (AMT) (THE "SERIES 2019B BONDS"), (3) AIRPORT PASSENGER FACILITY CHARGE AND SUBORDINATE LIEN GENERAL REVENUE BONDS, SERIES 2019C (NON-AMT) (THE "SERIES 2019C BONDS") AND (4) AIRPORT PASSENGER FACILITY CHARGE AND SUBORDINATE LIEN GENERAL REVENUE BONDS, SERIES 2019D (AMT) (THE "SERIES 2019D BONDS" AND, TOGETHER WITH THE SERIES 2019A BONDS, THE SERIES 2019B BONDS AND THE SERIES 2019C BONDS, THE "SERIES 2019 BONDS"), WITHIN CERTAIN PARAMETERS PREVIOUSLY ESTABLISHED BY THE CITY, INCLUDING THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT, INTEREST RATES, MATURITY AMOUNTS, MATURITY DATES, REDEMPTION PROVISIONS AND DEBT SERVICE RESERVE REQUIREMENT WITH RESPECT THERETO; RATIFY CERTAIN PRIOR ACTIONS OF THE CITY COUNCIL AND CERTAIN OFFICERS AND AGENTS OF THE CITY WITH RESPECT TO THE ISSUANCE AND SALE OF THE SERIES 2019 BONDS; RATIFY AND APPROVE THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT; RATIFY AND APPROVE THE PREPARATION, USE AND DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND THE EXECUTION AND DELIVERY OF A FINAL OFFICIAL STATEMENT IN CONNECTION WITH THE OFFER AND SALE OF THE SERIES 2019 BONDS; PROVIDE AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
WHEREAS, certain capitalized terms used in this Series 2019 Supplemental Bond
Resolution (the "Supplemental Resolution," referred to as the "Confirming Ordinance" in the hereinafter described Original Ordinance) shall have the meaning given to them in such Original Ordinance; and
WHEREAS, the City of Atlanta (the "City") adopted that certain Twenty-Fourth Supplemental Bond Ordinance (No. 19-0-1352) on July 1, 2019, as approved by the Mayor on July 3, 2019 (the "Original Ordinance"), authorizing, among other things, the issuance and sale of its (i) Airport General Revenue Bonds, Series 2019A (Non-AMT) (the "Series 2019A Bonds"), (ii) Airport General Revenue Bonds, Series 2019B (AMT) (the "Series 2019B
Bonds"), (iii) Airport Passenger Facility Charge and Subordinate Lien General Revenue Bonds, Series 2019C (Non-AMT) (the "Series 2019C Bonds") and (iv) Airport Passenger Facility Charge and Subordinate Lien General Revenue Bonds, Series 2019D (AMT) (the "Series 2019D Bonds" and, together with the Series 2019A Bonds, the Series 2019B Bonds and the Series 2019C Bonds, the "Series 2019 Bonds"), for the purpose of, among other things, (i) financing or refinancing a portion of the Capital Improvement Plan consisting of the projects listed on Exhibit A of the Original Ordinance (the "2019 Project"), (ii) paying interest on portions of the Series 2019 Bonds during the construction of the 2019 Project, (iii) funding all or a portion of the increase in the Debt Service Reserve Requirement resulting from the issuance of the Series 2019 Bonds, and (iv) paying certain costs of issuance with respect to the Series 2019 Bonds; and
WHEREAS, the City has determined to use a portion of the proceeds of the Series 2019
Bonds to (A) pay, in whole or in part, the principal of and interest on the City's outstanding (i) Not-to-Exceed $350,000,000 Third Lien Airport General Revenue Commercial Paper Notes, Series J-1 (Non-AMT), Third Lien Airport General Revenue Commercial Paper Notes, Series J-2 (AMT), Second Lien Airport Passenger Facility Charge and Third Lien Airport General Revenue Commercial Paper Notes, Series J-3 (Non-AMT), and Second Lien Airport Passenger Facility Charge and Third Lien Airport General Revenue Commercial Paper Notes, Series J-4 (AMT); (ii) Not-to-Exceed $475,000,000 Third Lien Airport General Revenue Commercial Paper Notes, Series K-1 (Non-AMT), Third Lien Airport General Revenue Commercial Paper Notes, Series K-2 (AMT), Second Lien Airport Passenger Facility Charge and Third Lien Airport General Revenue Commercial Paper Notes, Series K-3 (Non-AMT), and Second Lien Airport Passenger Facility Charge and Third Lien Airport General Revenue Commercial Paper Notes, Series K-4 (AMT); and (iii) Not-to-Exceed $125,000,000 Third Lien Airport General Revenue Commercial Paper Notes, Series L-1 (Non-AMT), Third Lien Airport General Revenue Commercial Paper Notes, Series L-2 (AMT), Second Lien Airport Passenger Facility Charge and Third Lien Airport General Revenue Commercial Paper Notes, Series L-3 (Non-AMT), and Second Lien Airport Passenger Facility Charge and Third Lien Airport General Revenue Commercial Paper Notes, Series L-4 (AMT) (collectively, the "Series J/K/L Notes"), which were issued to provide interim financing and refinancing for portions of the Capital Improvement Plan, and [(B) reimburse the City for portions of certain interest and letter of credit fee payments made with respect to the Series D Notes, the Series E Notes, the Series F Notes, the Series G Notes, the Series H Notes and the Series I Notes during construction of the projects financed thereby]; and
WHEREAS, the C i t y desires to ratify the preparation, use and distribution of the Preliminary Official Statement, dated August 14, 2019, regarding the Series 2019 Bonds in the form attached hereto as Exhibit A (the "Preliminary Official Statement") and authorize the preparation and delivery to the hereinafter defined Underwriters of a final official statement with respect to the Series 2019 Bonds; and
WHEREAS, the Series 2019 Bonds are proposed to be sold pursuant to a Bond Purchase Agreement, dated August 28, 2019 (the "Bond Purchase Agreement"), between the City and BofA Securities, Inc., as representative of itself and the other underwriters listed in the Preliminary Official Statement (collectively, the "Underwriters"), the execution of which was previously authorized in the Original Ordinance, and which the City desires to ratify and confirm, a form of which is attached hereto as Exhibit B, including the final aggregate principal
amount of and other terms which are within the parameters approved by the Original Ordinance;
and
WHEREAS, the Original Ordinance provides that the City shall, after the Series 2019
Bonds have actually been sold, adopt a resolution or ordinance which, among other things, will specify the interest rate or rates per annum which the Series 2019 Bonds shall bear, the principal amount of Series 2019 Bonds to mature in each year, the maturities of the Series 2019 Bonds, if
any, which shall be designated as term bonds subject to mandatory redemption, the optional redemption provisions applicable to the Series 2019 Bonds, and will provide for the specific application of the proceeds of the Series 2019 Bonds and other particulars of the Series 2019 Bonds;
NOW, THEREFORE, t h e Cit y C ounci l o f the C i t y of Atl ant a h e r e b y r e s o l v e s a s follows:
Section 1. Ratification of Prior Actions. All actions heretofore taken by the City Council and the officers and agents of the City directed toward the issuance and sale of the Series 2019 Bonds be and the same are hereby ratified, approved, and confirmed in all respects.
Section 2. Series 2019A Bond Details.
(a) The S e ri es 2 0 1 9 A B o n d s s h a l l b e issued i n the ori gi nal a g g r e g a t e p r i n c i p a l amount of $ and shall bear interest at the rates per annum set forth below, payable semiannually o n January 1 and July 1 of each year, commencing January 1, 2020, and shall mature on July 1 in the years and in the principal amounts as follows, unless earlier called for redemption:
Maturity
(July 1)
Principal
Amount
Interest
Rate
20 $ % 20
20
(b) The Series 2019A Bonds maturing on July 1 in the years 20_ and 20_ are each term bonds.
Section 3.
(a) The Series 2019A Bonds maturing on or after July 1, 20_ are subject to optional redemption prior to maturity at the option of the City on or after July 1, 20_, in whole or in part at any time in the manner and subject to the provisions of the Bond Ordinance, at a redemption price equal to the principal amount thereof, together with accrued interest to the redemption date and without premium. If less than all Series 2019A Bonds of like maturity shall be called for redemption, the particular S e r i e s 2 0 1 9 A B o n d s , o r portion o f S e r i e s 2 0 1 9 A B o n d s , t o b e redeemed shall be selected by lot by the City or in such other manner as the City in its sole discretion may deem proper.
CITY COUNCIL ATLANTA, GEORGIA
19-R-4337 SPONSOR SIGNATURES
CITY COUNCIL ATLANTA, GEORGIA
19-R-4337
A RESOLUTION BY COUNCILMEMBER HOWARD SHOOK SUPPLEMENTING THAT CERTAIN TWENTY-FOURTH SUPPLEMENTAL BOND ORDINANCE (19-0-1352), ADOPTED BY THE ATLANTA CITY COUNCIL ON JULY 1, 2019 AND APPROVED BY THE MAYOR ON JULY 3, 2019, TO, AMONG OTHER THINGS, SET FORTH THE TERMS OF THE CITY OF ATLANTA (1) AIRPORT GENERAL REVENUE BONDS, SERIES 2019A (NON-AMT) (THE "SERIES 2019A BONDS"), (2) AIRPORT GENERAL REVENUE BONDS, SERIES 2019B (AMT) (THE "SERIES 2019B BONDS"), (3) AIRPORT PASSENGER FACILITY CHARGE AND SUBORDINATE LIEN GENERAL REVENUE BONDS, SERIES 2019C (NON-AMT) (THE "SERIES 2019C BONDS") AND (4) AIRPORT PASSENGER FACILITY CHARGE AND SUBORDINATE LIEN GENERAL REVENUE BONDS, SERIES 2019D (AMT) (THE "SERIES 2019D BONDS" AND, TOGETHER WITH THE SERIES 2019A BONDS, THE SERIES 2019B BONDS AND THE SERIES 2019C BONDS, THE "SERIES 2019 BONDS"), WITHIN CERTAIN PARAMETERS PREVIOUSLY ESTABLISHED BY THE CITY, INCLUDING THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT, INTEREST RATES, MATURITY AMOUNTS, MATURITY DATES, REDEMPTION PROVISIONS AND DEBT SERVICE RESERVE REQUIREMENT WITH RESPECT THERETO; RATIFY CERTAIN PRIOR ACTIONS OF THE CITY COUNCIL AND CERTAIN OFFICERS AND AGENTS OF THE CITY WITH RESPECT TO THE ISSUANCE AND SALE OF THE SERIES 2019 BONDS; RATIFY AND APPROVE THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT; RATIFY AND APPROVE THE PREPARATION, USE AND DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND THE EXECUTION AND DELIVERY OF A FINAL OFFICIAL STATEMENT IN CONNECTION WITH THE OFFER AND SALE OF THE SERIES 2019 BONDS; PROVIDE AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
Workflow List:
Clerk of Council Completed 08/20/2019 11:00 AM
Finance/Executive Committee Pending 08/28/2019 1:00 PM
Atlanta City Council Completed 08/19/2019 1:00 PM
Mayor's Office Pending
RESULT: REFERRED WITHOUT OBJECTION
LE G ISL ATI ON H IST OR Y – BL UE BAC K
19-R-4337
A RESOLUTION BY COUNCILMEMBER HOWARD SHOOK SUPPLEMENTING THAT CERTAIN TWENTY-FOURTH SUPPLEMENTAL BOND ORDINANCE (19-0-1352), ADOPTED BY THE ATLANTA CITY COUNCIL ON JULY 1, 2019 AND APPROVED BY THE MAYOR ON JULY 3, 2019, TO, AMONG OTHER THINGS, SET FORTH THE TERMS OF THE CITY OF ATLANTA (1) AIRPORT GENERAL REVENUE BONDS, SERIES 2019A (NON-AMT) (THE
"SERIES 2019A BONDS"), (2) AIRPORT GENERAL REVENUE BONDS, SERIES 2019B (AMT) (THE "SERIES 2019B BONDS"), (3) AIRPORT PASSENGER FACILITY CHARGE AND SUBORDINATE LIEN GENERAL REVENUE BONDS, SERIES 2019C (NON-AMT) (THE "SERIES 2019C BONDS") AND (4) AIRPORT PASSENGER FACILITY CHARGE AND SUBORDINATE LIEN GENERAL REVENUE BONDS, SERIES 2019D (AMT) (THE "SERIES 2019D BONDS" AND, TOGETHER WITH THE SERIES 2019A BONDS, THE SERIES 2019B BONDS AND THE SERIES 2019C BONDS, THE "SERIES 2019 BONDS"), WITHIN CERTAIN PARAMETERS PREVIOUSLY ESTABLISHED BY THE CITY, INCLUDING THE ORIGINAL AGGREGATE PRINCIPAL AMOUNT, INTEREST RATES, MATURITY AMOUNTS, MATURITY DATES, REDEMPTION PROVISIONS AND DEBT SERVICE RESERVE REQUIREMENT WITH RESPECT THERETO;
RATIFY CERTAIN PRIOR ACTIONS OF THE CITY COUNCIL AND CERTAIN OFFICERS AND AGENTS OF THE CITY WITH RESPECT TO THE ISSUANCE AND SALE OF THE SERIES 2019 BONDS; RATIFY AND APPROVE THE EXECUTION AND DELIVERY OF A BOND PURCHASE AGREEMENT; RATIFY AND APPROVE THE PREPARATION, USE AND DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT AND THE EXECUTION AND DELIVERY OF A FINAL OFFICIAL STATEMENT IN CONNECTION WITH THE OFFER AND SALE OF THE SERIES 2019 BONDS; PROVIDE AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
VOTE RECORD - RESOLUTION 19-R-4337
ADOPTED
ADVERSED
FAVORABLE
ACCEPTED AND FILED
REFERRED TO COMMITTEE
HELD IN COMMITTEE
TABLED
DEFERRED
RECONSIDERED
FILED
FILED BY COMMITTEE
FAVORABLE ON SUBSTITUTE
FAVORABLE AS AMENDED
QUESTION CALLED
SUBSTITUTED
AMENDED
REFERRED TO ZRB AND ZC
REFERRED WITHOUT OBJECTION
ADOPTED AS AMENDED
ADOPTED SUBSTITUTE
YES/AYE NO/NAY ABSTAIN ABSENT
MICHAEL JULIAN BOND
MATT WESTMORELAND
ANDRE DICKENS
CARLA SMITH
AMIR R FAROKHI
ANTONIO BROWN
CLETA WINSLOW
NATALYN MOSBY ARCHIBONG
JENNIFER N IDE
HOWARD SHOOK
JP MATZIGKEIT
DUSTIN HILLIS
ANDREA L BOONE
MARCI COLLIER OVERSTREET
ADOPTED SUBSTITUTE AS AMENDED
FORWARDED
REFERRED TO SC
FILED WITHOUT OBJECTION
FAILED
ADVERSED IN COMMITTEE
QUADRENNIALY TERMINATED
FORWARDED W/NO RECOMMENDATION
FORWARDED TO FC/NQ
FAVORABLE/SUB/AMENDED
FAVORABLE/SUB/AMND/CONDITION
FAVORABLE/AMND/CONDITION
RETURNED AS HELD
FAVORABLE/SUB/CONDITION
FAVORABLE ON CONDITION
ACCEPTED
AMENDED SUBSTITUTE
ROUTED TO COW
SUSTAINED
OVERRIDEN
NOT ACCEPTED BY COMMITTEE
SUSTAINED WITHOUT OBJECTION
TABLED W/O OBJECTION
HELD IN COW
JOYCE M SHEPERD
Certified by Presiding Officer Certified by Clerk
Mayor’s Action
See Authentication Page Attachment
