HOUSTON – Bracewell LLP recently served as bond counsel in a $289 million airport revenue bond transaction for the Houston Airport System – which is the department of the City of Houston that manages the Bush-Intercontinental, Hobby and Ellington airports – to fund the construction of a multi-terminal baggage handling system and early baggage storage building by United Airlines at Bush-Intercontinental Airport.
The bonds were issued by the City of Houston as special facility revenue bonds, which are secured with rental payments through two separate special facility leases between the City and United. These bonds will provide funding to replace existing baggage handling systems with a single baggage handling system that will serve multiple terminals leased by United.
Bracewell lawyers involved in these transactions included:
Partners: Barron F. Wallace and Victoria N. Ozimek
Counsel: Mary F. Buzak and Peggy B. Christman
Associate: Sarah Tahir