On February 15, 2017 the Greater Orlando Aviation Authority (GOAA) adopted a resolution approving approving a plan of finance for the issuance of not to exceed $975,000,000 in aggregate par amount amount of debt in one of 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").  Such Debt is secured in whole or part by airport revenues for the purpose of financing and refinancing (A) costs incurred to acquire, design, construct and equip the new south terminal complex including: (1) site development such as the clearing, removal of vegetation and water features, grading of 175+ acres to accommodate the proposed terminals, parking facilities, aircraft taxiways and aprons, construction of roadways and bridges necessary for ground transportation, utility lines and other related site development; (2) a new approximately four level 835,000 square foot airside terminal with 16 gates which will accommodate both international and domestic air service, baggage handling systems, concession areas, food court, passenger holdrooms, sterile corridor system, passenger boarding bridges, emergency generators, moving walkways, operations centers and related airside terminal improvements; (3) new aprons and taxiways, lighting and an aircraft fuel hydrant system; (4) a new approximately 809,000 square foot landside terminal, baggage handling system, federal inspection station, curbside check-in areas, internal ticket counters and kiosks, and other related landside terminal improvements; (5) a new ground transportation center with elevated, covered walkways to and from the landside terminal and the multimodal terminal, and other related ground transportation improvements; (6) the addition of approximately 2,500 parking spaces and other related parking improvements; and (7) a new ground support equipment complex to house all of the supplies and equipment required to provide service to the proposed complex, dispose of airline waste, house portable fuel transports, minor communications, and facilities to maintain and repair ground support vehicles associated with aircraft activity, all as more particularly described in the plans and specifications on file with the Authority; and (B) costs related to the issuance of the Bonds including funding any necessary reserves (collectively, the "Project").

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

Adoption of the City Resolution approving the plan of finance and issuance of Debt for the Project pursuant to the requirements of the Code, and authorization for the Mayor and City Clerk to execute the City Resolution and all bonds, agreements and other documents related to the issuance of the Debt.