§ 15-101m — Establishment of rates, rents, fees and charges re Bradley International Airport.

Connecticut § 15-101m

• Jurisdiction: Connecticut
• Title 15: Navigation and Aeronautics
• Ch. 266a: Bradley International Airport Improvements and Financing

Text

Subject to the provisions of the general statutes and resolution authorizing the issuance of bonds pursuant to subsection (a) of section 15-101 l, the executive director of the Connecticut Airport Authority shall fix, revise, charge and collect rates, rents, fees and charges for the use of and for the services furnished or to be furnished by the facilities of Bradley International Airport and to contract with any person, partnership, association or corporation, or other body, public or private, in respect thereof. Such rates, rents, fees and charges shall be fixed and adjusted in respect of the aggregate of rates, rents, fees and charges from the operation of Bradley International Airport so as to provide funds sufficient with other revenues or moneys available therefor, if any, (1) to pay the cost of maintaining, repairing and operating the facilities of Bradley International Airport and each and every portion thereof, to the extent that the payment of such cost has not otherwise been adequately provided for, (2) to pay the principal of and the interest on any outstanding revenue obligations of the state or the authority issued in respect of the project as the same shall become due and payable, and (3) to create and maintain reserves and sinking funds required or provided for in any resolution authorizing, or trust agreement securing, such bonds. A sufficient amount of the revenues as may be necessary to pay the cost of maintenance, repair and operation and to provide reserves and for renewals, replacements, extensions, enlargements and improvements as may be provided for in the resolution authorizing the issuance of any bonds or in the trust agreement securing the same, shall be set aside at such regular intervals as may be provided in such resolution or trust agreement in a reserve, sinking or other similar fund which is hereby pledged to, and charged with, the payment of the principal of and the interest on such bonds as the same shall become due, and the redemption price or the purchase price of bonds retired by call or purchase as therein provided. The use and disposition of moneys to the credit of such reserve, sinking or other similar fund shall be subject to the provisions of the resolution authorizing the issuance of such bonds or of such trust agreement.

Legislative History

(P.A. 81-406, S. 5, 10; P.A. 91-334, S. 1, 3; P.A. 97-269, S. 1, 2; P.A. 23-135, S. 27.) History: Section effective from date of first issuance of bonds or notes pursuant to Sec. 15-101 l or 15-101n; P.A. 91-334 added Subsec. (c) re submittal of airport's annual operating budget to general assembly committee, through office of fiscal analysis; P.A. 97-269 amended Subsec. (a) to add exception re access fees for off-airport parking operators at Bradley International Airport, effective July 1, 1997; P.A. 23-135 deleted Subsec. (a) designator, replaced reference to Commissioner of Transportation with reference to executive director of the Connecticut Airport Authority, deleted exception for off-airport parking operators, added “or the authority” in Subdiv. (2), deleted Subsec. (b) re designation of fiscal year, annual operating budget and personnel and deleted Subsec. (c) re submission of operating budget to General Assembly and made technical changes, effective July 1, 2023.