Airport Authority Approves $10 Million In Revenue Bonds, But Gives No Details On Project

Wednesday, January 08, 2014
TAC Air as seen from Airport Authority board room
TAC Air as seen from Airport Authority board room

In a 10-minute meeting, the Metropolitan Airport Authority at a special called meeting on Wednesday afternoon voted to approve up to $10 million in revenue bonds.

According to the resolution, the bonds will be used to acquire real property to be used for airport parking, an airplane ramp and other unspecified uses.

The bonds are expected to be used for the purchase of the TAC Air property at the airport, but there was no mention of TAC Air at the brief meeting.

Airport spokesman Albert Waterhouse said, "The board of directors has put additional financing in place so the airport can continue to strategically expand to meet the future needs of our customers. We will have more details about our plans at Friday's meeting."

Terry Hart, airport president, said there will be another meeting on Friday at 2 p.m. to authorize the bonds.

TAC Air has been critical of the airport management since it decided several years ago to build the rival Wilson Air Center. Wilson Air since that time has lost over $1 million.

Attorney Hugh Moore said the city has no liability in connection with the airport bonds. He said the city or city taxpayers are not liable "in any way."

The maximum interest rate would be 4.99 percent.


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