Los Angeles, CA Dept of Airports
LAX International Airport
Series D

Los Angeles California Department Of Airports

Invest in the Los Angeles International Airport to help finance projects including improvements to the Bradley West Terminal.


Issuance characteristics
  • Not callable
  • Federally tax exempt
  • Revenue
  • Negotiated sale

About this bond issuance

  • Purpose

    The Series 2010D Senior Bonds are being issued to (i) finance a portion of the costs of the Series 2010D Senior Bonds Projects, (ii) make a deposit to the Senior Reserve fund, (iii) fund a portion of the interest accruing on the Series 2010D Senior Bonds through and including December 31, 2013 and (iv) pay costs of issuance of the Series 2010D Senior Bonds.

    The Series 2010D Senior Bonds Projects are comprise of certain elements of the Bradley West Terminal Projects and the Central Utility Plant project.

  • Obligor

    Los Angeles Department of Airports

  • Issuer

    Los Angeles Department of Airports

  • Security

    The Series 2010D Senior Bonds are secured by a pledge of and first lien on Pledged Revenues, which include certain income and revenue received by the Department from LAX but specifically exclude income and revenue received by the Department from the Department's other airports. The Senior Bonds are limited obligations of the Department payable solely from and secured solely by (a) a pledge of Pledged Revenues and (b) certain funds and accounts held by the Senior Trustee.

    Please see the Official Statement, section titled "Security and Sources of Payment for the Series 2010D Senior Bonds"

Ratings

Ratings

AA

S&P

Aa3

Moody's

AA

Fitch

Financing team

Neighborly Securities
Neighborly is a market participant on this issuance.