CHICAGO O’HARE AIRPORT REVENUE BOND SALE ON HOLD

Dino D'Amore
By Dino D'Amore February 7, 2011 14:21

CHICAGO O’HARE AIRPORT REVENUE BOND SALE ON HOLD

United and American airlines have requested Cook County Circuit Judge Richard Billik to require aviation commissioner Rosemarie Andolino to submit to questioning by lawyers representing the airlines in their lawsuit, which charges that the city violated airport lease agreements requiring airline approval for airport-related borrowing.

Chicago is planning to sell $1 billion in airport revenue bonds to begin work in April on the final runways in the O’Hare Modernization Program. However the city did not seek airline approval for the move and the bond sale was delayed last week due to concern over investor reaction to the lawsuit.

Because the runways will not be needed for many years, United and American have argued that they do not want to pay for them now.
The City filed a motion last week to quash any deposition of Andolino, saying it would be “burdensome” and “unreasonable” for her to give pretrial testimony because of her duties as commissioner. A second city motion seeks to limit to three hours depositions given by other city officials and consultants.

While the airlines filed their response in court opposing Chicago’s motion to dismiss the lawsuit.

A hearing on the various motions is set for today and the case is scheduled for trial on February 22.

Dino D'Amore
By Dino D'Amore February 7, 2011 14:21
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