This is a case study that presents tales of tax‐exempt airport finance projects. The United Airlines bankruptcy resulted in several decisions by the Seventh Circuit Court of Appeals of particular interest to municipal bond professionals and investors. These decisions illuminate potential issues arising from popular methods of airport finance and provide important lessons for structuring future deals. General obligation bond types of financing, municipal operators of airports are not liable under such special facility revenue bonds. This case study analyzes the crucial factors that influenced the ultimate judicial resolution of the disputes. Under the more recent forms of sale leaseback, the fate of the airline is a determining factor in whether or not bonds will be paid. This is a far cry from the old revenue and general obligation bond financing for airports.
Tax‐Exempt Airport Finance: Tales from the Friendly Skies
The Handbook of Municipal Bonds ; 1165-1184
2012-01-02
20 pages
Aufsatz/Kapitel (Buch)
Elektronische Ressource
Englisch
Online Contents | 2008
Privacy-friendly skies: Models, metrics, & solutions
IEEE | 2013
|Online Contents | 1998
Maintaining Friendly Skies: Rediscovering Theater Aerospace Defense
Online Contents | 2002
|Airports - Finance - Airport results
Online Contents | 2000