The Atlanta City Council Committee has approved the financing proposals for construction of a new international terminal at Hartsfield-Jackson Atlanta International Airport.
Two bond issues aggregating to about $1.4bn proposed to fund the Maynard Jackson International Terminal have been approved by the finance committee.
The bonds, including $800m and nearly $590m in existing revenue to be refinanced, will be enough for the revised estimate of $1.35bn, down from the original cost of $1.68bn.
In addition, the airport has sought federal funds of $33m from the Transportation Security Administration and $9m from the Federal Aviation Administration for construction of the terminal.
The city council, however, accepted a $2.8m grant from the FAA for the construction of a ramp at the terminal.