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This record contains private information, which has been redacted from public viewing.
Record #: O2020-3996   
Type: Ordinance Status: Introduced
Intro date: 7/22/2020 Current Controlling Legislative Body: Committee on Finance
Final action:
Title: Bond inducement language regarding Chicago O'Hare International Airport Special Facility Revenue Bonds for benefit of Transportation Infrastructure Properties LLC and/or Aero O'Hare II LLC or affiliates
Sponsors: Lightfoot, Lori E.
Topic: AIRPORTS - O'Hare
Attachments: 1. O2020-3996.pdf








OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR

July 22, 2020










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Aviation, I transmit herewith an ordinance authorizing issuance ofbond inducement language in conjunction with a lease agreement with Aero Chicago IL LLC at OTIare International Airport.

Your favorable consideration ofthis ordinance will be appreciated.

An Ordinance Declaring Intent to Issue City of Chicago Chicago O'Hare International Airport Special Facility Revenue Bonds in an Aggregate Principal Amount Not to Exceed $55,600,000 for the Benefit of Transportation Infrastructure Properties, LLC and/or Aero O'Hare II, LLC or Affiliates Thereof



Whereas, the City of Chicago (the "City"), is a duly constituted and existing municipality within the meaning of Section 1 of Article Vll 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 Vll ofthe Constitution; and

Whereas, the City owns and operates an airport known as Chicago O'Hare International Airport (the "Airport"); and

Whereas, the City leases certain property at the Airport to affiliates of Transportation Infrastructure Properties, LLC, a Delaware limited liability company, including Aero Chicago II, LLC, a Delaware limited liability company, and (collectively, and together with one or more affiliates of either or both such entities, the "Borrower") pursuant to the Aero Chicago II, LLC Cargo Facility Phase III Lease, to be entered into between City of Chicago and Aero Chicago II, LLC, at Chicago O'Hare International Airport, which facilities are to be managed by Aeroterm, US, Inc.; and

Whereas, the Borrower has requested that the City issue its special facility airport revenue bonds, notes or other indebtedness in an amount not to exceed Fifty-Five Million Six Hundre...

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