On February 17, 2016 the Greater Orlando Aviation Authority (GOAA) adopted a Resolution approving an overall plan of finance for the issuance of not to exceed $100,000,000 in aggregate par amount of debt in one or more series, including bonds and debt previously issued, and its Airport Facilities Revenue Bonds of the City of Orlando, and other senior and subordinate debt (collectively, the "Debt') secured in whole or in part by airport revenues, for the purpose of financing and refinancing (A) costs incurred to design and plan the first phase of the south terminal complex, including the procurement and payment of professional services for design consultants, architects, engineers, GSE consultants, system technology consultants, owner authorized representatives, construction managers and other related costs, and (B) costs related to the issuance of the bonds, including funding any necessary reserves (collectively, the "Future Project").  

For purposes of meeting the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, City Council is required to approve the Debt.