1408-2025

AN EMERGENCY ORDINANCE AUTHORIZING THE AMENDMENT OF THE 2024 REVOLVING LINE OF CREDIT AND/OR THE ISSUANCE BY THE CITY OF CLEVELAND OF ADDITIONAL AIRPORT SYSTEM SUBORDINATED INDEBTEDNESS IN THE FORM OF REVOLVING LINES OF CREDIT OR A COMMERCIAL PAPER PROGRAM IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO COLLECTIVELY EXCEED FOUR HUNDRED AND SEVENTY-SIX MILLION DOLLARS ($476,000,000) AT ANY ONE TIME TO PAY COSTS OF IMPROVING THE AIRPORT SYSTEM; AUTHORIZING AMENDMENTS TO THE 2024 LOAN AGREEMENT AND THE TWENTY-FIFTH SUPPLEMENTAL TRUST INDENTURE AND/OR ENTERING INTO ONE OR MORE REVOLVING CREDIT AGREEMENTS, REIMBURSEMENT AGREEMENTS, OFFICIAL STATEMENTS, DEALER AGREEMENTS, SUPPLEMENTAL INDENTURES, NOTES EVIDENCING SUBORDINATED INDEBTEDNESS AND OTHER AGREEMENTS RELATED TO SUBORDINATED INDEBTEDNESS; AND AUTHORIZING AND APPROVING RELATED MATTERS.

Emergency Ordinance Passed Introduced November 7, 2025

Where it was heard