Ordinance
Whi:r[-;as. 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 has entered into the following ground leases: (i) that certain Northeast Quadrant O'Hare Airport Fuel Farm Lease, dated April 26. 2016, between the City, as ground lessor, and Aero Chicago Distribution Infrastructure. LLC ("Aero Infrastructure"), as ground lessee; (ii) that certain Aero Chicago, LLC Cargo Facility Phase I Lease, dated August 8, 2012, between the City, as ground lessor, and Aero Chicago, LLC ("Aero Chicago"), as ground lessee, as amended by that certain Amendment to Aero Chicago, LLC Phase I Cargo Facility Lease, dated June 30, 2016, between the City, as ground lessor, and Aero Chicago, as ground lessee; and (iii) Aero Chicago, LLC Cargo Facility Phase II Lease, dated April 26, 2016, between the City, as ground lessor, and Aero Chicago, as ground lessee, as such ground leases may from time to time be amended (collectively, the "Ground Leases"); and
Whereas, Aero Chicago and Aero Infrastructure operate an integrated project consisting of a fueling station, air cargo facilities and other related facilities pursuant to and under the respective Ground Leases (the "Project Facilities") and desire to finance or refinance the costs of the acquisition, construction, equipping and/or improvement of the Project Facilities; and
Whereas, it is necessary and desirable at this time to authorize the issuance by the City of its Chicago O'Hare International Airport Senior Special Facilities Revenue Bonds (TrIPs Obligated Group). Series 2018 (the "Bonds") in one or more series from time to time: and
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