Ordinance O2025-0015555 - Chicago Councilmatic

Issuance of Chicago O'Hare International Airport Senior Special Facilities Revenue Bonds (TrIPs Obligated Group), Series 2025 for financing or refinancing of air cargo facilities, related facilities, debt service and bond cost issuance

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The City of Chicago plans to issue Bonds, with a maximum principal amount of $50,000,000, to fund the Project Facilities at Chicago O'Hare International Airport, operated by Aero Chicago II, LLC. The City Council authorizes the Mayor, Chief Financial Officer, or City Comptroller to establish terms for the Bonds, which will be secured by revenues from the Borrower and not considered a city debt. The Authorized Officer can sell the Bonds to Underwriters, potentially benefiting the City, O'Hare, and the Borrower tax-wise. The City must comply with tax regulations and approve various agreements related to the Bonds. The Officer and City Clerk are responsible for ensuring the City fulfills its obligations under the Ordinance, Indenture, and Bond Documents. The Ordinance supersedes conflicting ones and remains valid despite any Municipal Code violations. It becomes effective immediately upon the Mayor's approval.

	Sponsor	Ward
	Johnson, BrandonPrimary Sponsor

History

Date	Legislative body	Action
Date 2025-02-26	Legislative body Chicago City Council	Action Referred
Date 2025-02-25	Legislative body Committee on Committees and Rules	Action Recommended for Re-Referral
Date 2025-02-19	Legislative body Chicago City Council	Action Referred
Date 2025-02-19	Legislative body Chicago City Council	Action Introduced

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