Specifications include, but are not limited to: Bond Feasibility Services 1. Produce a (i) Report of the Airport Consultant (“Report”) included in Official Statement(s), primarily for the benefit of rating agencies, underwriters, bond insurance companies and prospective investors and/or (ii) Airport Consultant’s Certificate to meet the additional bonds test for issuing additional revenue bonds pursuant to Section 2.11(a) of the Subordinate Master Trust Indenture, which is required to be completed by a Consultant (defined as “any independent consultant, consulting firm, engineer, architect, engineering firm, architectural firm, accountant or accounting firm, or other expert recognized to be well-qualified for work of the character required and retained by the Commission to perform acts and carry out the duties provided for such consultant in the indenture). 2. Develop an independent financial forecast model of the airport’s financial operations showing future airport net revenues, the application of revenues to various funds and accounts and forecast debt service coverage. 3. Provide comments and recommendations for bond counsel, financial advisors and the Commission in matters relating to the materials presented in the Official Statement. Air Traffic Analysis 1. Provide air traffic forecasting and other air traffic-related analytical services by drawing upon primary and secondary market research, benchmarking, economic analyses and trend assessment, specific to the aviation industry. 2. Evaluate ways to mitigate the effects of economic impacts to travel frequency and passenger spending. 3. Interpret aviation statistics and aviation industry trends, which may include the analysis of existing and future advanced aviation technologies with the potential of providing operational efficiencies and capacity improvements for arriving aircraft at the airport. 4. Provide advice regarding the development and implementation of strategic air service analyses for promotion of the airport as a preferred destination. Other Financial analysis as requested by MAC staff and Commission 1. From time-to-time MAC may need assistance in conjunction with the Commission’s financial consultant to analyze the financial impact of its Capital Improvement Program (including the changing role the federal government may take in the financing of airports) or various leases (including the Airline Use Agreement) at MSP or its reliever airports.
