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PENINSULA AIRPORT COMMISSION
MANAGEMENT’S DISCUSSION AND ANALYSIS
JUNE 30, 2025
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.
During the year ended June 30, 2025 the balance outstanding on the Series 2005A Airport Improvement Bonds
was reduced to $2,618,560 from $2,954,568 outstanding as of June 30, 2024.
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.
During the year ended June 30, 2025 the balance outstanding on the Series 2005B Airport Improvement Bonds
was reduced to $1,180,548 from $1,334,135 outstanding as of June 30, 2024.
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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