OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
mayor
July 20, 2016
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Chief Financial Officer and the Commissioner of Aviation, I transmit herewith an ordinance authorizing an issuance of General Airport Revenue Bonds.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago (the "City") is a duly constituted and existing municipality within the meaning of Section 1 of Article VII of the 1970 Constitution of the State of Illinois (the "Constitution") having a population in excess of 25,000 and is a home rule unit of local government under Section 6(a) of Article VII of the Constitution; and
WHEREAS, the City owns and operates an airport known as Chicago O'Hare International Airport (the "Airport"); and
WHEREAS, the City has previously issued various series of its Chicago O'Hare International Airport General Airport Revenue Bonds that are currently outstanding (the "Outstanding Senior Lien Bonds"); and
WHEREAS, the Outstanding Senior Lien Bonds are "Senior Lien Obligations" secured under the Master Indenture of Trust Securing Chicago O'Hare International Airport General Airport Revenue Senior Lien Obligations dated as of September 1, 2012 between the City and U.S. Bank National Association, as trustee (the "Senior Lien Trustee"), as supplemented (the "Senior Lien Master Indenture"); and
WHEREAS, the City has previously authorized a commercial paper program providing for the issuance from time to time of commercial paper notes for Airport purposes (the "Commercial Paper Notes"); and
WHEREAS, the City has previously authorized a line of credit program providing for the issuance from time to time of credit agreement notes for Airport purposes (the "Credit Agreement Notes"); and
WHEREAS, the Outstanding Senior Lien Bonds, any Commercial Paper Notes and any Credit Agreement Notes cu...
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