Airport Financing: Use of Funds for Capital Improvements at Chicago O'Hare International Airport

RCED-00-275R Published: Sep 29, 2000. Publicly Released: Oct 05, 2000.
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Highlights

Pursuant to a congressional request, GAO provided information on the use of funds for capital improvements at Chicago O'Hare International Airport, focusing on several funding sources: (1) the Airport Improvement Program (AID), a grant program administered by the Federal Aviation Administration (FAA); (2) passenger facility charges, (PFC) a per-passenger fee levied on each passenger enplaning at the airport; (3) General Airport Revenue Bonds (GARB) issued by the city of Chicago, which owns and operates the airport; and (4) other revenue bond funds that are not secured by general airport revenues, but by specific sources of airport income.

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