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Airports/Airport Revenue Bonds

Airports and the aviation industry in general are facing unprecedented economic and legal issues.

However, airports enjoy some financing advantages including a diversity of revenue streams, from airline rental fees and parking revenues to passenger and customer facility changes. As bond counsel, underwriter’s counsel and as disclosure counsel, Ice Miller has extensive experience with the issuance of governmental and private activity airport financings including:
  • Airport system and airport revenue bonds, including refundings.
  • Project and special facility financings 
  • Passenger and customer facility charges financings
  • Variable and fixed rate airport securities
  • Subordinate obligations; and
  • State revolving fund transactions
Ice Miller has also advised clients on integrating credit enhancement devices and structuring derivative product transactions, compliance with federal airport regulations, including diversion, in negotiating and drafting air use agreements for rates and charges, in representation of the airport in connection with labor, budgets, construction, environmental and related contractual operational matters, as well as litigation defense.

Representative Experience

  • Over $1.0 billion of Indianapolis Airport Authority Project Revenue Bonds - Bond Counsel
  • Over $20 million of Fort Wayne International Airport Revenue Bonds, - Bond Counsel
  • Over $125 million of Trustees of the Tulsa Airports Improvement Trust General Airport Revenue Bonds, - Bond Counsel
  • Over $29 million of Gary Chicago International Airport Authority Revenue Bonds, - Underwriters Counsel
  • Over $200 million of Chicago O’Hare International Airport Revenue Bonds, - Underwriters Counsel
  • Over $300 million of Louisville Regional Airport Revenue Bonds, - Airport Counsel
  • Over $75 million of Columbus Airport Authority Revenue Bonds, - Issuers Counsel 


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