To: Board of Supervisors
From: John Kopchik, Director, Conservation and Development
Report Title: Tax-Exempt Revenue Bonds - Republic Services Inc.
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
ADOPT a resolution:
1. Approving the issuance of Tax-Exempt Revenue Bonds by California Municipal Finance Authority (CMFA) in an amount not to exceed $400,000,000 for the benefit of Republic Services Inc., a corporation duly organized and existing under the laws of the State of Delaware, and/or affiliates thereof (collectively, the "Borrower") to provide for the purpose of financing and refinancing the acquisition, construction, installation, rehabilitation, improvement and/or equipping of solid waste disposal facilities. A portion of the Bonds, in a principal amount not expected to exceed $55,000,000, will be used to finance and/or refinance certain capital projects located in the territorial limits of the County of Contra Costa (the "County") at Keller Canyon Landfill, 901 Bailey Road, Pittsburg, California (the "Project"), owned and/or operated by Keller Canyon Landfill Company. Such adoption is solely for the purposes of satisfying the requirements of Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA), the Code and the California Government Code Section 6500 (and following).
2. Finding and declaring that the recitals contained in the proposed resolution are true and correct;
3. Acknowledging that such approval is solely for the purposes of satisfying the requirements of Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and Section 147(f) of the Internal Revenue code of 1986, as amended (the "Code") to finance the costs of the acquisition, development, construction, or rehabilitation of the Project subject to Board of Supervisors approval of all documents related to the Bonds to which the County is a party;
4. Acknowledging that adoption of this resolution does not relieve or exempt the project spons...
Click here for full text