
NEW ISSUES Ratings: See “RATINGS” herein. BOOK-ENTRY ONLY In the opinion of Pullman & Comley LLC, Bond Counsel to the Authority, rendered in reliance upon and assuming the accuracy of and continued compliance with certain representations and covenants relating to certain requirements of the Internal Revenue Code of 1986, as amended (the “Code”), under existing laws, regulations, rulings and judicial decisions, interest on the Series 2019 A Bonds is not included in gross income for federal income tax purposes. In addition, (i) interest on the Series 2019 A Bonds is an item of tax preference for purposes of computing the individual alternative minimum tax, and (ii) interest on the Series 2019 A Bonds is not excludable from the gross income of owners who are “substantial users” of the facilities financed thereby. See “TAX MATTERS” herein. In the opinion of Bond Counsel, under existing law, interest on the Series 2019 B Bonds is included in gross income for federal income tax purposes pursuant to the Code. See “TAX MATTERS” herein. In the opinion of Bond Counsel, under existing statutes, interest on the Series 2019 A Bonds and the Series 2019 B Bonds is excluded from Connecticut taxable income for purposes of the Connecticut income tax on individuals, trusts and estates and is excluded from amounts on which the net Connecticut minimum tax is based in the case of individuals, trusts and estates required to pay the federal alternative minimum tax. See TAX MATTERS herein. $151,100,000 CONNECTICUT AIRPORT AUTHORITY Customer Facility Charge Revenue Bonds (Ground Transportation Center Project) $35,410,000 $115,690,000 Series 2019 A Series 2019 B (AMT) (Federally Taxable) Dated: Date of Delivery Due: July 1 as shown on the inside cover The Connecticut Airport Authority (the “Authority”) is issuing its Customer Facility Charge Revenue Bonds (Ground Transportation Center Project), Series 2019 A (AMT) (the “Series 2019 A Bonds”), and Customer Facility Charge Revenue Bonds (Ground Transportation Center Project), Series 2019 B (Federally Taxable) (the “Series 2019 B Bonds,” and together with the Series 2019 A Bonds, the “Series 2019 Bonds”), to (a) finance a portion of the costs of the development and construction of a consolidated rental car facility and related improvements at Bradley International Airport (the “Airport”), (b) fund a debt service reserve fund and coverage fund for the Series 2019 Bonds, (c) pay capitalized interest on the Series 2019 Bonds, and (d) pay the costs of issuance of the Series 2019 Bonds. See “PLAN OF FINANCE AND APPLICATION OF THE SERIES 2019 BOND PROCEEDS” herein. The Series 2019 Bonds are special limited obligations of the Authority, payable solely from and secured by a pledge of the Trust Estate, which includes, among other things, Customer Facility Charges collected by the rental car companies operating at the Airport and remitted to the Trustee, as assignee of the Authority, monthly Facility Payments made by the rental car companies, and, under certain circumstances, Contingent Payments payable by the rental car companies operating at the Airport and remitted to the Trustee, as assignee of the Authority, and certain funds and accounts held by the Trustee under the Indenture. No revenues of the Authority, other than the Customer Facility Charges, Facility Payments and the Contingent Payments, are pledged to the payment of the Series 2019 Bonds. NEITHER THE PROJECT (AS DEFINED HEREIN) NOR ANY OTHER PROPERTIES OF THE AUTHORITY ARE SUBJECT TO ANY MORTGAGE OR OTHER LIEN FOR THE BENEFIT OF THE OWNERS OF THE SERIES 2019 BONDS, AND NEITHER THE FULL FAITH AND CREDIT OF THE AUTHORITY AND ANY AGENCY OF THE STATE OF CONNECTICUT NOR THE FULL FAITH AND CREDIT AND THE TAXING POWER OF THE STATE OF CONNECTICUT OR ANY POLITICAL SUBDIVISION OF THE STATE OF CONNECTICUT IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF OR INTEREST ON THE SERIES 2019 BONDS. SEE “SECURITY AND SOURCES OF PAYMENT FOR THE SERIES 2019 BONDS.” The Series 2019 Bonds will be issued as fully registered bonds in the name of Cede & Co., as registered owner and nominee of The Depository Trust Company (“DTC”), New York, New York. Individual purchases and sales of the Series 2019 Bonds may be made in book-entry-form only in denominations of $5,000 and integral multiples thereof. Interest on the Series 2019 Bonds will be payable on January 1 and July 1, commencing on July 1, 2019. So long as the Series 2019 Bonds are held by DTC, the principal and redemption price of and interest on the Series 2019 Bonds will be payable by wire transfer to DTC, which in turn will be required to remit such principal, redemption price and interest to the DTC participants for subsequent disbursement to the beneficial owners of the Series 2019 Bonds, as more fully described herein. See “APPENDIX G—BOOK-ENTRY-ONLY SYSTEM.” Maturity Schedule on Inside Front Cover The Series 2019 Bonds are subject to optional, mandatory sinking fund and extraordinary mandatory redemption prior to maturity, as more fully described herein. See “DESCRIPTION OF THE SERIES 2019 BONDS—Redemption Provisions.” The purchase and ownership of Series 2019 Bonds involve investment risk and may not be suitable for all investors. This cover page contains certain information for general reference only. It is not intended to be a summary of the security or terms of the Series 2019 Bonds. Investors are advised to read the entire Official Statement, including any portion hereof included by reference, to obtain information essential to the making of an informed decision, giving particular attention to the matters discussed under “CERTAIN INVESTMENT CONSIDERATIONS.” Capitalized terms used on this cover page and not otherwise defined have the meanings set forth herein. The scheduled payment of principal of and interest on the Series 2019 B Bonds maturing on July 1 of the years 2030 through 2032, inclusive (the “Insured Bonds”), when due will be guaranteed under an insurance policy to be issued concurrently with the delivery of the Insured Bonds by Assured Guaranty Municipal Corp. The Series 2019 Bonds are offered when, as and if issued by the Authority, subject to the approval of validity by Pullman & Comley, LLC, Bond Counsel to the Authority, and to certain other conditions. Certain legal matters will be passed upon for the Authority by its General Counsel. Certain legal matters will be passed upon for the Underwriters by their counsel, Squire Patton Boggs (US) LLP. Frasca & Associates, LLC has served as Municipal Advisor to the Authority. It is expected that the delivery of the Series 2019 Bonds will be made through the facilities of DTC on or about April 9, 2019. BofA Merrill Lynch Citigroup Wells Fargo Securities Date of Official Statement: March 27, 2019 MATURITY SCHEDULE $35,410,000 Connecticut Airport Authority Customer Facility Charge Revenue Bonds (Ground Transportation Center Project), Series 2019 A (AMT) $20,000,000 5.000% Term Bonds due July 1, 2049, Yield: 3.330%1; CUSIP No.2: 20773CAA4 $15,410,000 4.000% Term Bonds due July 1, 2049, Yield: 3.650%1; CUSIP No. 2: 20773CAB2 $115,690,000 Connecticut Airport Authority Customer Facility Charge Revenue Bonds (Ground Transportation Center Project), Series 2019 B (Federally Taxable) Maturity Date Principal Interest (July 1) Amount Rate Yield CUSIP No.2 2023 $ 1,840,000 2.866% 2.866% 20773CAC0 2024 3,495,000 2.916% 2.916% 20773CAD8 2025 3,595,000 3.024% 3.024% 20773CAE6 2026 3,705,000 3.174% 3.174% 20773CAF3 2027 3,820,000 3.281% 3.281% 20773CAG1 2028 3,945,000 3.431% 3.431% 20773CAH9 2029 4,085,000 3.531% 3.531% 20773CAJ5 20303 4,225,000 3.611% 3.611% 20773CAK2 20313 4,380,000 3.711% 3.711% 20773CAL0 20323 4,540,000 3.811% 3.811% 20773CAM8 2033 4,715,000 3.981% 3.981% 20773CAN6 2034 4,900,000 4.081% 4.081% 20773CAP1 $27,710,000 4.132% Term Bonds due July 1, 2039, Yield: 4.132%; CUSIP No. 2: 20773CAQ9 $40,735,000 4.282% Term Bonds due July 1, 2045, Yield: 4.282%; CUSIP No. 2: 20773CAR7 1 Priced to the July 1, 2029 optional call date. 2 Copyright, American Bankers Association. The CUSIP numbers are provided by S&P Global Ratings, CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc. The CUSIP numbers are being provided solely for the convenience of Bondholders only at the time of issuance of the Series 2019 Bonds, and the Authority and the Underwriters do not make any representation with respect to such numbers or undertake any responsibility for their accuracy now or at any time in the future. The CUSIP number for a specific maturity is subject to being changed after the issuance of the Series 2019 Bonds as a result of various subsequent actions including, but not limited to, a refunding in whole or in part of such maturity or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of certain maturities of the Series 2019 Bonds. 3 Insured Bonds. CONNECTICUT AIRPORT AUTHORITY BOARD Thomas A. Sheridan (Chair) Michael T. Long (Vice Chair) Joseph Giulietti David Lehman Robert J. Aaronson Brett C. Browchuk J. Scott Guilmartin Karen Jarmoc Mary Ellen S. Jones Matthew J. Kelly Shawn Wooden BRADLEY INTERNATIONAL AIRPORT MANAGEMENT Kevin A. Dillon, A.A.E., Executive Director Michael W. Shea, Deputy Executive Director - Finance Sharon Traficante, Deputy Executive Director - Administration Benjamin G. Parish, ACE, C.M., Director of Bradley Operations Robert Bruno, Director of Planning, Engineering and Environmental Services Paul K. Pernerewski, Jr., General Counsel TRUSTEE BOND COUNSEL U.S.
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