On June 20, 2018 the Greater Orlando Aviation Authority (GOAA) adopted a resolution  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 for the issuance of not to exceed $975,000,000 in aggregate par amount of debt (in addition to prior approvals) in one or more series, including bonds and debt previously issued and its Airport Facilities Refunding Revenue Bonds of the City, 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 acquire, design, construct and equip the new south terminal including: (1) site development such as the clearing, removal of vegetation and water features, grading 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 airside terminal and gate system 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, operations centers and related airside terminal improvements; (3) new aprons and taxiways, lighting and an aircraft fuel hydrant system; (4) a new 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, garage, and the multimodal terminal, and other related ground transportation improvements; (6) additional parking spaces to supplement the multi-story garage that was constructed as part of the South Airport Automated People Mover (APM) program; 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 incurred to acquire, design, construct and equip the following projects in the North Terminal Complex and other areas: (1) repurpose Airside 1 Federal Inspection Services (FIS) to convert the existing FIS to alternate use upon decommissioning of the Airside 1 facility; (2) replacing building system infrastructure including sewer, HVAC and information technology; (3) replacement of and/or system updates to existing Airside APM vehicles and related infrastructure; (4) design and construction of the Heintzelman Boulevard extension from Jeff Fuqua Boulevard to Boggy Creek Road; (5) fiber infrastructure/ductbanks/information technology enhancements, security system and checkpoint projects and closed circuit television infrastructure; (6) various development of airport property for non-airline revenue generation; (7) Rent-a-Car (RAC) facility improvements including a quick turn-around (QTA) facility, storage facility and other RAC related infrastructure projects; and (8) Airport capacity, access control and security enhancement projects in the airfield, landside terminal and airside terminals to address changes in federal regulations; and (C) costs related to the issuance of the Bonds including funding any necessary reserves (collectively, the "Projects")

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.