Jackson Hole Airport / JAC

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Thursday, 27 July 2017

NOTICE AND INVITATION FOR PROPOSALS TO PROVIDE A CAPITAL IMPROVEMENT LOAN

The Jackson Hole Airport Board (“Board”) is the owner and operator of the Jackson Hole Airport (“Airport”). The Board hereby provides notice and invitation to qualified lending institutions authorized to do business in the state of Wyoming (“Bank”) to submit proposals to provide a loan (the “Capital Improvement Loan”). Proceeds of the Capital Improvement Loan would fund in part the costs of planning, designing and construction of a new fuel facility at the Airport.

The Board expects that: (i) a Capital Improvement Loan principal amount of up to approximately $8.5 million would be required to satisfy the funding requirements of the design and construction of the fuel facility. (ii) the repayment of the Capital Improvement Loan would occur over a term of 15 years; and (iii) repayment of the Capital Improvement Loan would be from a fund composed of certain Airport revenues. For federal taxation purposes, the Board should be considered an instrumentality of the Town of Jackson and County of Teton, Wyoming. Accordingly, interest paid by the Authority on the Capital Improvement Loan should be excluded from income for the purposes of federal taxation.

The Board wishes to engage the Bank which can best demonstrate the experience and qualifications necessary to satisfy the Board’s Capital Improvement Loan needs and which has made the best proposal for such Capital Improvement Loan, as determined by the Board in its sole and absolute discretion.

Banks interested in making a proposal to the Board to provide the Capital Improvement Loan may contact Michelle Anderson in the Airport’s Administrative Offices (307)733-7695 or michelle.anderson@jhairport.org to obtain the Board’s Capital Improvement Loan information package (“Bank Information Package”).

Proposals will be accepted until 1:00 p.m., local time, on Monday, August 28, 2017(“Proposal Due Date”) in the office of the Airport Executive Director. More detailed submission information is contained in the Bank Information Package. Proposals received after the Proposal Due date will not be considered by the Board.