Notice Issued April 6, 2007

NOTICE OF PUBLIC HEARING ON PROPOSED REVENUE BONDS, REFUNDING BONDS, OR OTHER OBLIGATIONS TO BE ISSUED BY THE METROPOLITAN WASHINGTON AIRPORTS AUTHORITY FOR WASHINGTON NATIONAL AND DULLES AIRPORTS

Notice is hereby given that the METROPOLITAN WASHINGTON AIRPORTS AUTHORITY (the “Authority”) will conduct a PUBLIC HEARING on April 23, 2007 at 7:00 p.m. at the Marriott Hotel on the grounds of Dulles Airport, Chantilly, Virginia, which hearing may be continued or adjourned, concerning the issuance of tax-exempt revenue bonds, refunding bonds or other obligations by the Authority, pursuant to a plan of financing to pay for facilities to be owned and operated by the Authority at Ronald Reagan Washington National Airport (“National”), located at Gravelly Point, Arlington, Virginia, and Washington Dulles International Airport (“Dulles”), Chantilly, Virginia. These facilities will be used for private activities such as use by, or for the benefit of, the Airlines. The hearing being conducted is in accordance with 26 U.S.C. § 147(f). The hearing will be preceded by a public information session beginning at 6:00 p.m. The categories of expenditure at the airports are as follows:

NATIONAL AIRPORT: Obligations in a total maximum amount now estimated not to exceed $463,858,119, some portion of which is currently outstanding, shall be undertaken in order to initiate, complete or refinance projects with expenditures in the following categories:

  • AIRFIELD EXPENDITURES, including, but not limited to, runway studies, runway safety area improvements, environmental impact statement for crosswind runways safety areas, aircraft parking aprons, runway overlays, taxiway paving, noise monitoring system, fire and rescue facility, deicing fluid collection and disposal.
  • AVIATION EXPENDITURES, including, but not limited to, hydrant fueling system, various hangar renovations.
  • GROUND TRANSPORTATION EXPENDITURES, including, but not limited to, landside roads, study of alternative parking facilities and an additional parking garage deck.
  • TERMINAL EXPENDITURES, including, but not limited to, rehabilitation of Terminal A (restore main terminal), asbestos abatement, contaminated soils, flight information display system, graphics signage, consolidated communication center, airport rescue and fire fighting facility, and office building expansion and other miscellaneous associated projects.
  • SYSTEM AND SERVICE FACILITIES EXPENDITURES, including, but not limited to, utility systems such as sewer, drainage systems, gas distribution pipes, water supply, storm drainage systems, tunnels and duct banks.
  • PUBLIC SAFETY AND NON-AVIATION EXPENDITURES, including, but not limited to, fire, rescue and police facilities.
  • MAINTENANCE FACILITY AND REHABILITATION EXPENDITURES;
  • PROPERTY INTERESTS; e.g., rights of way for utilities, roadways, runway protection zones and avigation easements.
  • SECURITY ENHANCEMENTS; including, but not limited to, in-line baggage screening system; facilities and improvements.
  • SPECIAL FACILITIES; including, but not limited to, hangars and flight kitchens;
  • OTHER RELATED EXPENDITURES:
    1. Functionally related and subordinate facilities for any of the foregoing categories, including functionally related and subordinate fixtures and equipment;
    2. Facilities constructed and expenditures made for substitutions and replacements of and additions to any of the facilities described in the foregoing categories; and
    3. Associated expenditures for facilities and equipment which are necessary or useful for airport utilization of facilities and completion of the foregoing projects.

DULLES AIRPORT: Obligations in a total maximum amount now estimated not to exceed $6,515,892,728, some portion of which is currently outstanding, shall be undertaken in order to initiate, complete or refinance projects with expenditures in the following categories:

  • AIRFIELD EXPENDITURES, including, but not limited to, aircraft runways, taxiways, taxilanes, extensions of taxiways and taxilanes, parking aprons, holding aprons, air traffic control tower, cargo facilities, pavement replacement, shoulder rehabilitation, concourse modifications for aircraft, guidance systems, noise monitoring system, topographic survey, deicing fluid collection and disposal.
  • AVIATION EXPENDITURES, including, but not limited to, hydrant fueling system, leak detection, jet fuel pipeline, and airline commuter facilities.
  • GROUND TRANSPORTATION EXPENDITURES, including, but not limited to, roadway improvements, structural parking, surface parking, parking shuttle vehicles, rail access facilities, metro rail, and new rental car facility.
  • TERMINAL EXPENDITURES, including, but not limited to, rehabilitation of existing main terminal, baggage handling, modification to international arrivals facilities, expansion of Concourse B, rehabilitation Concourses C&D, new midfield terminals, tenant relocations, passenger connecting walkways, bridges, tunnels and stations, engineering facility, maintenance facility, utility facility, arrivals and departures roadway improvements, asbestos abatement, contaminated soils, wetlands and streams, flight and baggage information display systems, and other miscellaneous associated projects.
  • PASSENGER CONVEYANCE EXPENDITURES, including, but not limited to, constructing an intra-airport rail system, maintaining mobile lounge system and other passenger conveyance vehicles.
  • SYSTEM AND SERVICE FACILITIES EXPENDITURES, including, but not limited to, utility buildings and distribution systems, electrical substations, water storage, airport communication system, radio system enhancements, other utility systems such as water, sewer, gas distribution pipes, tunnels, trunk lines, standby power, electrical vaults, cable conversion, ductbanks, and storage equipment.
  • PUBLIC SAFETY AND NON-AVIATION EXPENDITURES, including, but not limited to, fire, rescue and police facilities.
  • MAINTENANCE FACILITY AND REHABILITATION EXPENDITURES;
  • PROPERTY INTERESTS; including, but not limited to, acquisition of interests in real property and relocation of owners, tenants, and businesses on the property and near the property, for the operation of, or improvements to, Dulles, e.g., runways, taxiways, runway protection zones and avigation easements and airport support facilities..
  • SECURITY ENHANCEMENTS; including, but not limited to, in-line baggage screening system; facilities and improvements.
  • SPECIAL FACILITIES; including, but not limited to, hangars and flight kitchens;
  • OTHER RELATED EXPENDITURES:
    1. Functionally related and subordinate facilities for any of the foregoing categories, including functionally related and subordinate fixtures and equipment;
    2. Facilities constructed and expenditures made for substitutions and replacements of and additions to any of the facilities described in the foregoing categories; and
    3. Associated expenditures for facilities and equipment which are necessary or useful for airport utilization of facilities and completion of the foregoing projects.

REFUNDING BONDS

The public hearing shall also concern the issuance of refunding bonds, which may be issued to refund any or all of the revenue bonds, or other bonds or obligations of the Authority, the proceeds of which were used to finance the projects described above. The aggregate principal amount of refunding bonds shall not exceed $2,633,095,000 which shall include the principal amount, redemption, premium, and any accrued interest of the revenue bonds, or other bonds or obligations to be refunded and cost of issuing refunding bonds.

PLAN OF FINANCING

The Authority presently anticipates funding these projects through a combination of Authority funds, proceeds of bonds, including previously issued bonds, additional bonds to be issued on a parity basis with other previously issued bonds, the proceeds of bond anticipation notes and short term commercial paper, federal grants, passenger facility charges and the investment earnings on the proceeds of all such financing vehicles. The Authority expects to issue revenue bonds or refunding bonds at different times in several series of different amounts, with the timing, amounts, and number of issues depending on the needs for funds and market condition. The Authority expects to issue bonds at various times over the next 3 years. As required, by the Acts creating the Authority, the obligations will not pledge the credit of the Commonwealth of Virginia or the District of Columbia or any political subdivision thereof, but will be payable solely from revenues of both airports.

HEARING AND COMMENTS:

All interested persons are invited to submit written comments and/or present oral comments at the public hearing regarding facility improvements, the issuance of bonds and the plan of financing. A presentation will be made at the beginning of the hearing on the facilities to be financed. An informal public information session will be conducted prior to the hearing beginning at 6:00 p.m. Persons wishing to comment in person may sign up at the hearing or may notify the Metropolitan Washington Airports Authority in advance in writing not later than 12:00 p.m., April 23, 2007. Comments at the hearing will initially be limited to five minutes per individual or organization. Additional time may be allotted at the hearing. Written comments may be submitted at the hearing or to the Authority at the address below not later than 5:00 p.m., April 25, 2007. A more detailed description of the facilities to be financed will be available at the hearing and may be obtained in advance from the Vice President of Engineering, Metropolitan Washington Airports Authority, Ronald Reagan Washington National Airport, West Building, Suite 155, Washington, DC 20001, phone number (703) 417-8141.

Issued by the Metropolitan Washington Airports Authority

April 6, 2007