Notice is hereby given that the METROPOLITAN WASHINGTON AIRPORTS AUTHORITY (the "Authority") will conduct a public hearing on September 18, 2000 at 7:00 p.m. at the Marriott Hotel on the grounds of Dulles Airport, Chantilly, Virginia, which hearing may be continued or adjourned, concerning the issuance of tax-exempt revenue bonds, refunding bonds or other obligations by the Authority, pursuant to a plan of financing to pay for facilities to be owned and operated by the Authority at Ronald Reagan Washington National Airport ("National"), located at Gravelly Point, Arlington, Virginia, and Washington Dulles International Airport ("Dulles"), Chantilly, Virginia. The hearing will be preceded by a public information session beginning at 5:00 p.m. The categories of expenditure at the airports are as follows:

NATIONAL AIRPORT: Obligations in a total maximum amount now estimated not to exceed $325,377,000, some portion of which is currently outstanding, shall be undertaken in order to initiate, complete or refinance projects with expenditures in the following categories:

• AIRFIELD EXPENDITURES, including, but not limited to, aircraft parking aprons, deicing fluid collection and disposal system;
• AVIATION EXPENDITURES, including, but not limited to, various hangar renovations, construction of a hydrant fueling system, leak detection system;
• GROUND TRANSPORTATION EXPENDITURES, including, but not limited to, new roadways, parking structures, surface parking;
• TERMINAL EXPENDITURES, including, but not limited to, rehabilitation of Terminal A (old main terminal), tenant relocation, pedestrian and utility tunnels, improvements to Metro rail station;
• SYSTEM AND SERVICE FACILITIES EXPENDITURES, including, but not limited to, utility systems, such as sewer, drainage systems, gas distribution pipes, tunnels and duct banks;
• MAINTENANCE FACILITY AND REHABILITATION EXPENDITURES;
• PROPERTY INTERESTS; e.g., runway protection zones and avigation easements.
• SPECIAL FACILITIES, including, but not limited to, hangars and flight kitchens; and
• OTHER RELATED EXPENDITURES:
  1. Functionally related and subordinate facilities for any of the foregoing categories, including functionally related and subordinate fixtures and equipment;
  2. Facilities constructed and expenditures made for substitutions and replacements of and additions to any of the facilities described in the foregoing categories; and
  3. Associated expenditures for facilities and equipment which are necessary or useful for airport utilization of facilities and completion of the foregoing projects.

DULLES AIRPORT: Obligations in a total maximum amount now estimated not to exceed $4,092,190,000, some portion of which is currently outstanding, shall be undertaken in order to initiate, complete or refinance projects with expenditures in the following categories:

• AIRFIELD EXPENDITURES, including, but not limited to, construction of new aircraft parking aprons, holding aprons, runways, taxiways, taxi lanes, extensions of taxiways and taxi lanes, a new air traffic control tower, cargo facilities, fire and rescue facility, a perimeter road;
• AVIATION EXPENDITURES, including, but not limited to, leak detection system;
• TERMINAL EXPENDITURES, including, but not limited to, rehabilitation of existing main terminal and expansion of the new baggage handling areas, modification to international arrivals facilities, construction of new midfield terminals, expansion of Concourse B, construction of regional/commuter airline facilities, construction of passenger baggage and utility tunnels between terminals and between terminals and parking facilities, passenger connecting walkways and bridges, Federal Inspection Service (FIS) facilities, tenant relocations, arrivals and departures roadway improvements, asbestos abatement, flight and baggage information display systems, and other miscellaneous associated projects;
• GROUND TRANSPORTATION EXPENDITURES, including, but not limited to, roadway improvements, structural parking, surface parking, parking shuttle vehicles, rail access facilities and new rental car facilities;
• PASSENGER CONVEYANCE EXPENDITURES, including, but not limited to, constructing an intra-airport rail system, maintaining mobile lounge system and other passenger conveyance vehicles;
• SYSTEMS AND SERVICES EXPENDITURES, including, but not limited to, a south utility building, electrical substation, water storage, airport communication systems, radio system enhancements, other utility systems such as water, sewer, and gas distribution pipes, tunnels, ductbanks and storage equipment;
• PUBLIC SAFETY AND NON-AVIATION EXPENDITURES, including, but not limited to, construction of fire and police facilities;
• MAINTENANCE AND REHABILITATION EXPENDITURES;
• PROPERTY INTERESTS, including, but not limited to, acquisition of interests in real property and relocation of owners, tenants, and businesses on the property and near the property, for the operation of, or improvements to, Dulles, e.g., runways, taxiways, runway protection zones and avigation easements and airport support facilities, and the relocation of the NOAA facilities;
• SPECIAL FACILITIES, including, but not limited to, hangars and flight kitchens; and
• OTHER RELATED EXPENSES
  1. Functionally related and subordinate facilities for any of the foregoing categories, including functionally related and subordinate fixtures and equipment;
  2. Facilities constructed and expenditures made for substitutions and replacements of and additions to any of the facilities described in the foregoing categories; and
  3. Associated expenditures for facilities and equipment which are necessary or useful for airport utilization of the facilities and completion of the foregoing projects.

REFUNDING BONDS
The public hearing shall also concern the issuance of refunding bonds, which may be issued to refund any or all of the revenue bonds, or other bonds or obligations of the Authority, the proceeds of which were used to finance the projects described above. The aggregate principal amount of refunding bonds shall not exceed $1,858,050,000 which shall include the principal amount, redemption, premium, and any accrued interest of the revenue bonds, or other bonds or obligations to be refunded and cost of issuing refunding bonds.

PLAN OF FINANCING:
The Authority presently anticipates funding these projects through a combination of Authority funds, proceeds of bonds, including previously issued bonds, additional bonds to be issued on a parity with other previously issued bonds, the proceeds of bond anticipation notes and short term commercial paper, federal grants, passenger facility charges and the investment earnings on the proceeds of all such financing vehicles. The Authority expects to issue revenue bonds or refunding bonds at different times in several series of different amounts, with the timing, amounts, and number of issues depending on the needs for funds and market conditions. The Authority expects to issue bonds at various times over the next 3 years. As required by the Acts creating the Authority, the obligations will not pledge the credit of the Commonwealth of Virginia or any political subdivision thereof or the District of Columbia, but will be payable solely from revenues of both airports.

HEARING AND COMMENTS:
All interested persons are invited to submit written comments and/or present oral comments at the public hearing regarding facility improvements, the issuance of bonds and the plan of financing. A presentation will be made at the beginning of the hearing on the facilities to be financed. An informal public information session will be conducted prior to the hearing beginning at 5:00 p.m. Persons wishing to comment in person may sign up at the hearing or may notify the Metropolitan Washington Airports Authority in advance in writing not later than 12:00 p.m., September 18, 2000. Comments at the hearing will initially be limited to five minutes per individual or organization. Additional time may be allotted at the hearing. Written comments may be submitted at the hearing or to the Authority's Vice President of Engineering at the address below not later than 5:00 p.m., September 22, 2000.

A more detailed description of the facilities to be financed is available for inspection at the Office of the Airport Manager at National and Dulles Airports or from the Vice President of Engineering, Metropolitan Washington Airports Authority, Ronald Reagan Washington National Airport, West Building, Suite 155, Washington, DC 20001, phone number (703) 417-8140. This information will also be available at the public information session and at the hearing. It is also available at mwaa.com, the Authority's website under Proposed Airport Development.

James A. Wilding
President and Chief Executive Officer