The Dallas Fort Worth International Airport is jointly owned by the Cities of Dallas and Fort Worth. The Airport (located within the cities of Grapevine, Irving, Coppell, and Euless) is equidistant (17 miles) from Dallas and Fort Worth.
The Airport was created by the 1968 Contract and Agreement between the Cities of Dallas and Fort Worth. Under the terms of the Contract and Agreement, the Airport is operated by a Board of Directors on behalf of the Owner Cities. The Board is authorized to plan, acquire, establish, develop, construct, maintain, equip, operate, lease, regulate and police the Airport and is charged with the responsibility for exercising on behalf of the Owner Cities the powers of each with respect thereto.
The Board consists of 11 members, 7 from the City of Dallas and 4 from the City of Fort Worth. Both the Mayor of Dallas and the Mayor of Fort Worth sit on the Board. The remaining Board members are appointed by the respective City Councils. In addition, the Board has one non-voting member who is appointed by the respective City Councils, on a rotating basis, from one of the four cities in which the Airport is located.
Airport Revenue Bonds are issued jointly by the Owner Cities by Concurrent Bond Ordinances approved by the City Councils of the Owner Cities and are secured solely by certain revenues of the Airport.