Burbank-Glendale-Pasadena Airport Authority Finance and Administration Committee Agenda Packet May 18, 2026
Authority Buys Bond Insurance from Assured Guaranty
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Description
The Authority has elected to purchase both a municipal bond insurance policy for select maturities of its 2026 Bonds and a debt service reserve insurance policy for all maturities from Assured Guaranty, aiming to lower overall debt service costs. The procurement was executed under the parameters of Bond Resolution No. 521 following market evaluation.
Contract Details
Vendor
ASSURED GUARANTY
Agency
Burbank-Glendale-Pasadena Airport Auth, CA
Contract Type
INSURANCE
Document Date
May 16, 2026
Renewal Info
One-time purchase of bond and reserve insurance associated with the 2026 bond issuance; renewal would only occur in connection with refunding or new debt and is not described.
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