The City is expected to come to market with Airport General Revenue Bonds, $317,305,000 Series 2026A-1 (Non-AMT) (Green Bonds), $73,385,000 Series 2026A-2 (Non-AMT), $371,520,000 Series 2026B-1 (AMT) (Green Bonds), $327,265,000 Series 2026B-2 (AMT),1 (collectively, the "Series 2026 Bonds.").
The proceeds of the Series 2026 Bonds will be used for the purpose of providing funds to, among other things: (a) finance or refinance the costs of planning, engineering, designing, acquiring, equipping and constructing all or a portion of the 2026 Project (as defined in the Preliminary Official Statement), which constitutes a portion of the Capital Plan to 2032 (as defined in the Preliminary Official Statement), including paying or redeeming a portion of the outstanding 2025 Commercial Paper Notes, Series 2024 Short-Term Notes, and Series 2025 Short-Term Notes (each as defined in the Preliminary Official Statement); (b) fund deposits to the applicable subaccounts of the Debt Service Reserve Account to meet the Debt Service Reserve Requirement related to the Series 2026 Bonds; (c) pay capitalized interest; and (d) pay certain costs of issuance with respect to the Series 2026 Bonds.
The Series 2026 Bonds are special limited obligations of the City payable from and secured by a pledge of and Senior Lien on General Revenues on a parity with the Outstanding Senior Lien General Revenue Bonds and any other Additional Bonds issued on a parity with such Outstanding Senior Lien General Revenue Bonds under the Bond Ordinance, including, when and if issued, the Planned 2027-2032 General Revenue bonds. The Series 2026 Bonds will not be secured by PFC Revenues, Special Purpose Revenues or Released Revenues, any of which may be pledged to secure other bonds and obligations under the Bond Ordinance.
The Series 2026 Bonds are special limited obligations of the City and shall not be deemed to constitute a debt of the City within the meaning of any constitutional limitation on debt nor constitute a pledge of the faith and credit of the City. The Series 2026 Bonds shall not be payable from or be a charge upon any funds other than the revenues and amounts pledged to the payment thereof pursuant to the Bond Ordinance, nor shall the City be subject to any pecuniary liability thereon. No owner or owners of the Series 2026 Bonds shall ever have the right to compel any exercise of the taxing power of the City to pay the Series 2026 Bonds or the interest thereon, nor to enforce payment of the Series 2026 Bonds against any property of the City; nor shall the Series 2026 Bonds constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the City, except for the amounts pledged to the payment of the Series 2026 Bonds and any other funds pledged to secure the payment of the Series 2026 Bonds in the manner set forth in the Bond Ordinance.
The Offered Bonds are subject to redemption prior to maturity as defined in the Preliminary Official Statement. The Bonds are rated "AA" by Fitch, "AA" by S&P, and "AA+" by Kroll.2
Key benefits
The bond sale offers attractive benefits to individual investors including prices and yields that match those available to institutional investors and the potential for stable income through the call dates. And, for State of Georgia residents, federal and State of Georgia tax-exemption on the bond coupon payments.
How to place an order
The offer is expected to price the week of August 10, 20261 although market conditions and/or the discretion of the issuer may alter the anticipated timeline. Individual investors can place orders online or by calling a Fidelity representative at 800-544-5372. To stay up-to-date on pricing, credit rating changes, and more, please sign up for Fidelity Alerts and see our Municipal Bond New Issue Offerings.
