|Outagamie County Airport Retires Bonds - Terminal is Debt Free|
Appleton, WI: The Outagamie County Airport (ATW) recently made a strategic move to retire debt on its terminal that underwent an expansion in 2001. At that time, bonds totaling $4.0 million issued with a 15 year term. The Airport choose to pay them off utilizing airport reserves in November 2011, which was five years early. This decision will save the airport $234 thousand in interest.
“Paying off this debt early assists us in keeping our rates and charges for our terminal tenants, including airlines, competitive.” said Marty Lenss, airport director. “The Airport is committed to providing convenient, modern, and affordable facilities to both its airline partners and customers.”
"We commend Outagamie County Regional Airport for their commitment to keeping costs low and using resources efficiently as possible. Paying off the terminal early is just one example of this," said Eric Fletcher, Manager of Airports for Allegiant. "ATW has been a great partner for Allegiant and we look forward to continued focus on low-cost and low-fares for Appleton residents."
The expansion in 2001 was necessary to provide improved customer amenities and support future airport growth. Customer enhancements within this new 30,000 square foot gate area included spacious seating areas with natural lighting, ambient in floor heating, new passenger paging system, and for the first time at ATW, 5 aircraft boarding bridges.
Project funds totaled $10.7 million and were as follows:
“I am pleased to announce that our terminal is now debt-free and I want to thank Airport Director, Marty Lenss and Finance Director, Brian Massey along with our entire team for making this possible. In tough economic times, retiring debt early is not easy.” said Thomas Nelson, County Executive. “Today’s announcement underscores the fiscal strength of our airport and county and complements recent financial announcements including the renewal of our Aaa bond rating and the lowest levy adjustment in over twenty years.”
About Outagamie County Airport
Allegiant Air, Delta Air Lines, and United Express serve the growing Fox Cities market. The Outagamie County Airport is an Enterprise Fund Department of Outagamie County, WI., and is supported wholly by airport user charges. No general tax fund revenues are used for the administration, promotion, operation, or maintenance of the airports in the system. Visit www.atwairport.com for more information and to book your next flight. Find us on Twitter and Facebook.