NOTICE OF PUBLIC HEARING CONCERNING ISSUANCE OF BONDS

MARYLAND TRANSPORTATION AUTHORITY

NOTICE OF PUBLIC HEARING
CONCERNING ISSUANCE OF BONDS

A public hearing will be held at 10:30 a.m. on, July 16, 2026, at the offices of the Maryland Transportation Authority (the “MDTA”), 2310 Broening Highway Baltimore, Maryland, 21224, in the Second Floor Training Room, by the MDTA for the proposed issuance by the MDTA of one or more series of its airport facility revenue bonds (the “Bonds”), at one time or from time to time, pursuant to Title 4 of the Transportation Article of the Annotated Code of Maryland, as amended.

The purpose of the public hearing is to permit any person to testify orally or in writing concerning (i) the issuance of the Bonds, or (ii) the location and nature of the projects to be financed or refinanced with the proceeds of the Bonds.

The Bonds constitute exempt facility bonds as defined in Section 142 of the Internal Revenue Code of 1986, as amended (the “Code”), and the proceeds thereof will be transmitted by the Authority to the Maryland Aviation Administration (the “MAA”) in order to finance or refinance all or a portion of the costs of airport facility projects pursuant to Section 142(a)(1) of the Code, including (without limitation) the acquisition, construction, renovation or equipping of airport facility projects located at the Baltimore/Washington International Thurgood Marshall Airport (the “BWI Marshall Airport”) in Anne Arundel County, Maryland 21240, including (without limitation): (i) Passenger Movement Modernization (Phase 2), to include (without limitation) replacing 40 public-use vestibule doors in the main terminal on both the upper and lower levels. With 40 vestibules being replaced and up to 6 sets of doors per vestibule, around 200 doors are being replaced. The project also includes replacing existing doors and making associated modifications to adjacent building elements, including ceilings, lighting, and flooring, as necessary to accommodate the new installations; (ii) Passenger Movement Modernization Phase 3 to include (without limitation) replacing three (3) moving walkways, nine (9) elevators, and ten (10) escalators in Concourses D and E. The existing equipment has reached or exceeded its useful life and will be replaced to improve reliability, safety, and overall passenger experience. (iii) Design for Air Traffic Control Tower (the “ATCT”), Baggage Handling System, and Concourse C/D Connector to include (without limitation) design services to complete the 2009 Terminal Modernization Program, which establishes post-security connectivity across all concourses, designing the final post-security connector linking Concourses C, designing an in-line baggage handling system on the first level, incorporating up to four explosive detection systems, designing of a new Airport Operations Center and ATCT; (iv) Roof Replacement including (without limitation) replacing Concourse B’s existing deteriorated roof; and (v) Bag Claim Expansion including (without limitation) constructing a new baggage claim area within the existing space between Concourses D and E. The project area comprises an approximately 8,000-square-foot vacant shell. The proposed improvements include installing a new domestic baggage claim device. The baggage claim device will be served by a new conveyor system extending from the airside tug road through an existing operational/mechanical roomed. (collectively, the “Project”). The Project may also include land or interests in land, buildings, structures, machinery, equipment, furnishings or other real or personal property located on the same sites as the Project. Approval of the Project by the Federal Aviation Administration is pending and anticipated to be received by August 2026.
The State of Maryland through the MAA is the legal owner and operator of the Project. The maximum aggregate principal amount of the Bonds issued with respect to the Project will not exceed $70,000,000. The Bonds will be issued pursuant to a plan of financing that may entail the financing or refinancing of the Bonds, and upon the approval by the Board of Public Works of a lease agreement between MAA and MDTA. Because of the possible inclusion of original issue discount bonds (some of which may be capital appreciation bonds), the total amount of Bonds payable at maturity may exceed the initial stated principal amount of the Bonds.

The public hearing will provide a reasonable opportunity to be heard for persons wishing to express their views on the merits of the Project, its location, the issuance of the Bonds or related matters. The public hearing will meet the requirements imposed by Section 147(f) of the Code, to the extent applicable to the Bonds. For additional information or to submit written testimony, please contact for the MDTA at the address set forth above. Written testimony must be submitted at least 24 hours prior to the date and time of the hearing scheduled for the July 16, 2026, hearing. Anyone planning to attend the hearing that requires auxiliary aids, services or accommodations is invited to contact the MDTA by telephone at 410-537-5710 or by email at [email protected] at least 48 prior to the date and time for the hearing. To the extent that it is feasible and possible, an interpreter will be provided upon request. Oral comments will be limited to a time duration as determined by the MDTA representative conducting the hearing. A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) he or she represents, if any, prior to speaking. Attendees should be prepared to provide identification to enter the offices of the MDTA.