Allegheny County Header
Share to Facebook Share to Twitter Bookmark and Share
File #: 11876-21    Version: 1 Name:
Type: Resolution Status: Enacted
File created: 5/21/2021 In control: Chief Clerk
On agenda: 5/25/2021 Final action: 6/8/2021
Title: Resolution of the County of Allegheny, Commonwealth of Pennsylvania, approving an amendment of the Articles of Incorporation of the Allegheny County Airport Authority to extend its term of the existence until June 17, 2059.
Sponsors: Chief Executive
Attachments: 1. 11876-21 ACAA resolution summary.docx, 2. 11876-21 Attachment - ACAA Resolution 4-19-21.pdf, 3. 08-21-RE 11876-21.pdf
title
Resolution of the County of Allegheny, Commonwealth of Pennsylvania, approving an amendment of the Articles of Incorporation of the Allegheny County Airport Authority to extend its term of the existence until June 17, 2059.

body
WHEREAS, on June 17, 1999, the then Board of Commissioners of Allegheny County adopted a resolution providing for the creation of the Allegheny County Airport Authority (ACAA) pursuant to the provisions of the Municipality Authorities Act of 1945 (the Act), 53 Pa. C.S.A § 5601 et seq.; and

WHEREAS, the Secretary of the Commonwealth approved ACAA’s Articles of Incorporation on June 17, 1999 and the ACAA held its organizational meeting on July 29, 1999; and

WHEREAS, Section 5605 (a) (2) of the Act allows an authority to amend its articles of incorporation to modify or add a provision to increase the authority’s term of existence to a date not exceeding 50 years from the date of approval of the articles of amendment; and

WHEREAS, the ACAA is now planning to issue bonds for the financing of the redevelopment of the new terminal (“Terminal Modernization Project” or “TMP”) with a term of up to 35 years for maturity; and

WHEREAS, the ACAA’s current term of existence will expire on or about June 17, 2049, thereby allowing for ACAA to issue bonds for the TMP having a term of less than 28 years; and

WHEREAS, an amendment extending the ACAA’s existence to 2059 will allow for the issuance of 35-year maturity bonds in keeping with the ACAA’s finance plan for the TMP and for the potential that bonds may be issued in series which would have different maturities; and

WHEREAS, Section 5605 (b) of the Act requires that an authority wishing to amend its Articles of Incorporation must have its board adopt a resolution approving the proposed amendment to its Articles of Incorporation and submit the proposed amendment to the municipality that created the authority for the municipality’s approval; and

WHEREAS, the ACAA’s Board adopted a Re...

Click here for full text