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PENINSULA AIRPORT COMMISSION
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2024
9
Long-Term Debt
In 2006, the Airport issued $7,000,000 of Airport Improvements Bonds, Unsecured Tax-Exempt Bond,
Series 2005A, dated December 21, 2005, at 4.30% interest, maturing in January 2032. The Airport used the
proceeds to pay for the construction of a parking garage.
Balance outstanding June 30, 2024 – $2,954,568 and 2023 – $3,276,058.
In 2006, the Airport issued $3,000,000 of Airport Improvements Bonds, Unsecured Taxable Bond, Series 2005B,
dated December 21, 2005, at 5.81% interest, maturing in January 2032. During 2018, the interest rate was
reduced to 3.95%. The Airport used the proceeds to pay for the construction of a parking garage.
Balance outstanding June 30, 2024 – $1,334,135 and 2023 – $1,481,449.
Request for Information
This financial report is designed to provide a general overview of the Commission’s finances for all those
interested. Questions concerning any of the information provided in this report or request for additional information
should be addressed in writing to the Director of Finance, Peninsula Airport Commission, Newport News –
Williamsburg International Airport, 900 Bland Boulevard, Suite G, Newport News, VA.
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