The Northwest Arkansas Regional Airport Authority is scheduled to select the financial adviser and underwriter for its $140 million airport project on Nov. 19, a spokesman said.
Scott Van Laningham, an authority spokesman, said 14 firms submitted proposals to be either the financial adviser, underwriter, or both for the proposed Northwest Arkansas Airport. The authority's finance committee was expected to compile a short list from those proposals on Oct. 20, before the final selection next month, Van Laningham said.
Under the project, about $60 million of short-term bonds will be issued and about $30 million of long-term bonds, Van Laningham said. Some remaining funds will come from a Federal Aviation Administration grant.
The regional airport in Fayettville is expected to be completed in 1996 and would provide more nonstop passenger flights and more cargo-handling ability than the area's current airport, Drake Field. Both Delta and American airlines have expressed interest in providing service at the airport, Van Laningham said.