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BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
DATE: April 16, 2013
TO: Honorable Chairman and Members of the Board
FROM: Dino J. Villani
SUBJECT: Request to Seek Underwriter RFQ
DEPARTMENT: Airport
BCC DISTRICT: All
STATEMENT OF ISSUE: The Board of County Commissioners is requested to authorize
staff to prepare a Request for Qualifications (RFQ) for soliciting underwriter services to refund
the 2003 Series of Airport Revenue Bonds.
BACKGROUND: The Airport plans to issue approximately $10,000,000 of senior lien airport
revenue bonds in order to reduce debt service costs by as much as $80,000 a year given the
current bond market performance. Approximately $8,000,000 will be used to refund the Series
2003 bonds eligible for redemption on October 1, 2013. This portion of the new issue will be
secured by Passenger Facility Charges collected by the Airlines. The remaining $2,000,000 will
be used to refinance a current commercial paper bank loan outstanding through the Florida
Association of Counties. Airport general revenues will secure this portion because this loan
financed non-PFC eligible projects. The Airports Department also requests approval for the
following people to serve on the selection recommendation committee: Mr. Gary Stanford, Mr.
Mike Stenson, Commissioner Kelly Windes, Mr. Richard Brannon and Mr. Dino Villani or the
new Airports Director.
OPTIONS: Approve, Reject or Table
RECOMMENDATIONS: Approve
RECOMMENDED BY:
APPROVED BY:
James D. Curry, County Administrator