Call to Order

Call to Order

Item 1

AIRPORT - VT MOBILE AEROSPACE ENGINEERING, INC. PROJECT AT PENSACOLA INTERNATIONAL AIRPORT - FINANCING - SERIES 2016 NOTE WITH BBVA/COMPASS BANK

Recommendation:
That City Council approve the attached resolution authorizing a financing with BBVA/Compass Bank not to
exceed $6,299,600 to finance a portion of the cost of the construction of a hanger and related facilities at the
Pensacola International Airport. Further, provisions of the loan agreement and Series 2016 Note, each described
in the resolution, will conform to the final terms negotiated with the lender, subject to the parameters provided
in the resolution. Finally, that City Council authorize the Mayor to take all actions necessary to execute the
transaction.

RESOLUTION NO. 42-16
A RESOLUTION AUTHORIZING THE ISSUANCE BY THE CITY OF PENSACOLA,
FLORIDA OF A TAXABLE AIRPORT FACILITIES GRANT ANTICIPATION NOTE,
SERIES 2016, IN THE PRINCIPAL AMOUNT NOT TO EXCEED $6,299,600 TO
FINANCE A PORTION OF THE COST OF THE CONSTRUCTION OF A HANGAR AND
RELATED FACILITIES AT THE PENSACOLA INTERNATIONAL AIRPORT IN
ANTICIPATION OF THE RECEIPT OF PROCEEDS OF A GRANT FROM THE
FLORIDA DEPARTMENT OF TRANSPORTATION, ALL AS MORE FULLY DESCRIBED
HEREIN; PLEDGING THE PLEDGED FUNDS FOR THE PAYMENT OF SAID
SERIES 2016 NOTE; PROVIDING FOR THE PAYMENT OF THE SERIES 2016 NOTE;
AUTHORIZING THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT;
AUTHORIZING EXECUTION OF AN ISDA MASTER AGREEMENT AND A
SCHEDULE AND CONFIRMATION RELATED THERETO WITH COMPASS BANK;
AUTHORIZING THE EXECUTION OF OTHER RELATED FINANCING DOCUMENTS
IN CONNECTION WITH THE SERIES 2016 NOTE; AUTHORIZING THE AWARD OF
THE SALE OF THE SERIES 2016 NOTE TO COMPASS BANK ON A NEGOTIATED
BASIS; AUTHORIZING FURTHER OFFICIAL ACTION IN CONNECTION WITH THE
DELIVERY OF THE SERIES 2016 NOTE; PROVIDING FOR SEVERABILITY;
PROVIDING FOR REPEAL OF INCONSISTENT PROVISIONS; AND PROVIDING AN
EFFECTIVE DATE.

Item 2

AIRPORT - VT MOBILE AEROSPACE ENGINEERING, INC. PROJECT AT PENSACOLA
INTERNATIONAL AIRPORT - AMENDMENT NO. 1 TO THE REAL PROPERTY LEASE WITH
VT MOBILE AEROSPACE ENGINEERING

Recommendation:
That City Council authorize the Mayor to execute Amendment No. 1 to the Lease with VT Mobile Aerospace
Engineering to conform the agreement to the finalized project. Further, that City Council authorize the Mayor
to take all actions necessary related to the execution of the amendment.

Item 3

AIRPORT - VT MOBILE AEROSPACE ENGINEERING, INC. PROJECT AT PENSACOLA
INTERNATIONAL AIRPORT - AMENDMENT NO. 1 TO ARCHITECTURAL AND
ENGINEERING DESIGN SERVICES

Recommendation:
That City Council authorize the Mayor to execute Amendment No. 1 to the contract with Atkins North America
in the amount of $351,449 for additional architectural and engineering services for the VT Mobile Aerospace
Engineering project at Pensacola International Airport. Further that City Council authorize Mayor to take all
actions necessary related to the execution of the amendment.

Item 4

AIRPORT - VT MOBILE AEROSPACE ENGINEERING, INC. PROJECT AT PENSACOLA
INTERNATIONAL AIRPORT - AMENDMENT NO. 1 TO THE CONSTRUCTION MANAGER
AT RISK CONTRACT FOR CONSTRUCTION PHASE SERVICES

Recommendation:
That City Council authorize the Mayor to execute Amendment No. 1 to the contract with Greenhut Construction
Company, Inc. to incorporate the costs for Construction Phase Services of the VT Mobile Aerospace
Engineering project at Pensacola International Airport with a Guaranteed Maximum Price of $37,576,696, plus
a project contingency in the amount of $1,864,452, for a total project cost of $46,030,447, and providing
procedures for owner-direct purchases of materials. Further that City Council authorize Mayor to take all
actions necessary related to the execution of the amendment.