HomeMy WebLinkAbout2021/01/12-Agenda-AllianceAirport Authority (AAA) ALLIANCEAIRPORT AUTHORITY, INC.
Tuesday, January 12, 2021
2:00 P.M
City Council Conference Room 2020, Second Floor
City Hall
200 Texas Street
Fort Worth, Texas 76102
Viewing Only
Television: Charter 190; One Source 7; Verizon 5; AT&T Uverse 99
City of Fort Worth Website Homepage: Watch Live Online
Board of Directors
Jungus Jordan, President Kelly Allen Gray, Director Carlos Flores, Director
Brian Byrd, Director Gyna M. Bivens, Director Cary Moon, Director
Ann Zadeh, Director Betsy Price,Director Dennis Shingleton, Vice President
Staff Liaison: Jay Chapa,Deputy City Manager
Tyler Wallach, Senior Assistant City Attorney
Reginald Zeno, Treasurer
Mary Kayser, Secretary
I. CALL TO ORDER
II. WRITTEN REPORTS
A. Financial Report through October 2020
III. ACTION ITEMS
A. Consideration of December 15, 2020 Meeting Minutes
B. Consideration of a Resolution Recommending that the Fort Worth City Council
Approve the Termination of the AllianceAirport Authority, Inc.
IV. EXECUTIVE SESSION
The Board of Directors of AllianceAkport Authority, Inc. may conduct a closed meeting
to:
A. Seek the advice of its attorneys about any matter regarding the following in
which the duty of the attorney under the Texas Disciplinary Rules of
Professional Conduct of the State Bar of Texas clearly conflicts with the Texas
Open Meetings Act[Tex. Govt. Code §551.071]: (i) legal issues related to any
current agenda items
B. Discuss the purchase, sale, lease or value of real property, as authorized by
Section 551.072 of the Texas Government Code. Deliberation in an open
meeting would have a detrimental effect on the position of the Corporation in
negotiations with a third party; and
C. Discuss or deliberate negotiations relating to any economic development
negotiations, as authorized by Section 551.087 of the Texas Government
Code.
V. FUTURE AGENDA ITEMS
A. Request for Future Agenda Items
VI. ADJOURN
ASSISTANCE AT THE PUBLIC MEETING
The Fort W orthCity Hall and City Council Conference Room are wheelchair accessible. Persons with disabilities who plan to attendthis meeting
and who may need accommodations,auxiliary aids,or services such as interpreters,readers,or large print are requestedto contact the City's ADA
Coordinator at(817)392-8552 or e-mail ADA(&FortW orthTexas.gov at least 48 hours prior to the meeting so that appropriate arrangements can
be made. If the City does not receive notification at least 48 hours prior to the meeting,the City will make a reasonable attempt to provicb the
necessary accommodations at least two working days prior to the meeting so that appropriate arrangements can be made.
10:06AM AllianceAirport Authority, Inc.
11/20/20
Accrual Basis Trial Balance
As of October 31, 2020
Oct 31, 20
Debit Credit
Chase - Operating 225,773.54
Chase - Reserve 250,000.00
Southwest - Savings 252,100.35
Accts Receivable 8,568.85
Land
Accounts Payable
Retained Earnings 737,150.95
Gas Lease Royalties 792.21
Investments:lnterest-Savings, Short-term CD 84.00
TOTAL 737,234.95 737,234.95
Page 1 of 1
9:59 AM AllianceAirport Authority, Inc.
11/20/20
Accrual Basis Profit & Loss
October 2020
Oct 20
Ordinary Income/Expense
Income
Gas Lease Royalties (792.21)
Investments
Interest-Savings, Short-term CD 84.00
Total Investments 84.00
Total Income (708.21)
Net Ordinary Income (708.21)
Net Income (708.21)
Page 1 of 1
10:03 AM AllianceAirport Authority, Inc.
11/20/20
Accrual Basis Balance Sheet
As of October 31, 2020
Oct 31, 20
ASSETS
Current Assets
Checking/Savings
Chase - Operating 225,773.54
Chase - Reserve 250,000.00
Southwest - Savings 252,100.35
Total Checking/Savings 727,873.89
Other Current Assets
Accts Receivable 8,568.85
Total Other Current Assets 8,568.85
Total Current Assets 736,442.74
TOTAL ASSETS 736,442.74
LIABILITIES & EQUITY
Equity
Retained Earnings 737,150.95
Net Income (708.21)
Total Equity 736,442.74
TOTAL LIABILITIES & EQUITY 736,442.74
Page 1 of 1
CITY OF FORT WORTH,TEXAS
CITY COUNCIL
ALLIANCEAIRPORT AUTHORITY,INC.
DECEMBER 15, 2020
Present:
President Jungus Jordan
Vice President Dennis Shingleton
Director Betsy Price
Director Carlos Flores
Director Gyna Givens (Video)
Director Cary Moon
Director Brian Byrd
Director Kelly Allen Gray (Video)
Director Ann Zadeh (Video)
City Staff:
Tyler Wallach, Senior Assistant City Attorney
Jay Chapa, Deputy City Manager
Reginald Zeno, Treasurer
Ronald P. Gonzales,Assistant City Secretary
I. Call to Order
With a quorum of the directors present, President Jordan called the meeting to order for the Board
of Directors of the A1lianceAirport Authority, Inc., at 2:23 p.m. on Tuesday,
December 15, 2020, in the City Council Conference Room, Room 2020 of the Fort Worth
Municipal Building, 200 Texas Street, Fort Worth, Texas.
II. Written Reports
a. Financial Report through October 2020
III. Briefings
a. None
IV. Presentations
a. Update on Gulfstream MRO Project—Robert Sturns, Director of Economic Development
Mr. Robert Sturns, Director of Economic Development, provided a PowerPoint presentation that
summarized the project.
V. Action Items
a. Consideration of September 22, 2020,meeting minutes.
CITY OF FORT WORTH,TEXAS
ALLIANCEAIRPORT AUTHORITY,INC.
DECEMBER 15,2020
Page 2 of 2
Motion was made by Director Moon and seconded by Director Byrd to approve the minutes of the
September 22, 2020,AllianceAirport Authority, Inc.,meeting. Motion carried 9-0.
b. Consideration of Resolution Authorizing the Transfer of$737,234.95 in Excess Funds to
the City of Fort Worth—Robert Sturns, Director of Economic Development
Mr. Robert Sturns, Director of Economic Development, provided a staff presentation.
Motion was made by Director Price and seconded by Director Moon, to approve Resolution No.
AAA-2020-03, Authorizing the Transfer of $737,234.95 in Excess Funds to the City of Fort
Worth. The motion carried 9-0.
VI. Executive Session
There was no Executive Session.
VII. Future Agenda Items
There were no requests for future agenda items.
VI. Adjourn
With no further business before the Corporation Board, President Jordan adjourned the meeting of
the AllianceAirport Authority, Inc., at 2:31 p.m. on Tuesday, December 15, 2020.
These minutes approved by the AllianceAirport Authority, Inc., on the of January, 2021.
APPROVED:
Jungus Jordan, President
Minutes Prepared by and Attest:
Mary J. Kayser, TRMC/MMC
Secretary to the Corporation Board
Resolution
Date:January12, 2021
RESOLUTION
BOARD OF DIRECTORS
ALLIANCEAIRPORT AUTHORITY, INC.
Recommending that the Fort Worth City Council Approve the Termination of the
AllianceAirport Authority, Inc.
WHEREAS, AllianceAirport Authority, Inc. ("Corporation") is an industrial
development corporation created in 1989 to benefit the City of Fort Worth ("City") and to, among
other things, issue bonds to promote and develop new and expanded business enterprises in the
City, to promote and encourage employment, and otherwise to benefit the public welfare in
accordance with the Development Corporation Act of 1979, as amended;
WHEREAS, as part of the purpose for which it was organized, the Corporation issued
Special Facilities Revenue Refunding Bonds for the old American Airlines maintenance facility
and aFedEx facility as follows: (1)American Airlines (Series 2007) -$350,000,000 and(2) FedEX
(Series 2006) - $249,540,000;
WHEREAS, the bonds issued for the American Airlines maintenance facility were
deemed fully satisfied, released, and discharged upon American Airlines' emergence from
bankruptcy on December 9,2013;
WHEREAS, the bonds issued for the FedEx facility were redeemed in 2016;
WHEREAS, in addition, the Corporation is currently a party to an Oil and Gas Lease
("Lease");
WHEREAS, the funds collected by the Corporation from the Lease are used to pay any
annual existing obligations of the Corporation, with any remaining funds being transferred to the
City per Article I of the Corporation's Articles of Incorporation;
WHEREAS, Section 501.402 of the Texas Local Government Code allows the
Corporation, with approval by written resolution of the City Council, to terminate the
Corporation's existence if the Corporation by resolution determines that: (1) the purpose for which
the Corporation was formed has been substantially filled; and (2) all bonds issued by the
Corporation have been fully paid;
WHEREAS, upon termination, title to all funds and property owned by the Corporation
are transferred to the City, which will include the Lease;
WHEREAS,the Board of the Corporation ("Board") recommends that the Fort Worth City
Council adopt a resolution approving of the termination of the Corporation because the
Corporation has substantially fulfilled the purpose for which it was formed (i.e., issuing bonds for
the American Airlines maintenance facility and the FedEx facility) and all bonds have been fully
satisfied.
Resolution of AllianceAirport Authority, Inc.
Recommending that City Council Approve the Termination of the AAA 1 of 2
Resolution
Date:January12, 2021
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD:
Sectionl. That the Board recommends that the Fort Worth City Council adopt aresolution
approving the termination of the Corporation because the Corporation has substantially fulfilled
the purpose for which it was formed and all bonds have been fully satisfied.
Section 2. That the President of the Board is authorized to sign this Resolution on the
Board's behalf.
Section 3. That this Resolution shall talce effect immediately from and after its passage.
By:
Jungus Jordan
President
Attest:
Mary Kayser
Corporate Secretary
Resolution ofAllianceAirport Authority, Inc.
Recommending that City Council Approve the Termination of the AAA 2 of 2