HomeMy WebLinkAboutRESOLUTIONS - 01081991 - 91-16 BOARD OF SUPERVISORS 97
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CONTRA COSTA COUNTY
Adopted this Order on January 8, 1991 by the following vote:
AYES: Supervisors Powers, Schroder, McPeak, Torlakson, Fanden
NOES: None
ABSENT: None
ABSTAIN: None
RESOLUTION NO. 91/16
SUBJECT: Reimbursement from tax-exempt financings of payments of costs of Integrated
Resource Recovery Facilities
The Board of Supervisors of Contra Costa County RESOLVES THAT:
1. The Board of Supervisors (the "Board") of the County of Contra Costa (the "County")
proposes to finance or facilitate the financing of certain capital improvements, which
include, but are not limited to, certain capital improvements to be located in areas of
Western and Central Contra Costa County shown on Exhibit A and Exhibit B
respectively, attached hereto and incorporated herein consisting of integrated resource
recovery facilities, which will include facilities,for the recycling and processing of solid
waste and facilities for loading non-recoverable materials onto trucks for transport to a
landfill (the "Projects").
2. The County intends that each Project be financed in whole or in part through the issuance
of tax-exempt indebtedness of the County or a separate entity (the "Financing Agency")
to be formed by the County and one or more other public agencies.
3. The County, orlhe operator of each facility as described in Paragraph 4 (the "Operator")
on behalf of the County or the Financing Agent, may advance moneys from time to time
to pay costs of the Project in anticipation of being reimbursed for such advance payments
from the tax-exempt indebtedness when issued.
4. The operators of the projects described in Exhibit A and Exhibit B are expected to be
Richmond Sanitary Services and Acme Fill, respectively or other.private parties related
thereto.
5. It is the present intent of the County that there be issued by the County or the Financing
Agency at one time or from time to time, tax-exempt indebtedness to finance each
Project,in the amount of approximately $40 million for.each Project. It is the purpose
and intent of the County that this resolution constitute official action evidencing its intent
(or, as applicable, the intent of the Financing Agency) to finance each Project with tax-
exempt indebtedness pursuant,to the Internal Revenue Code of 1986 and the regulations
issued thereunder, including Treasury Regulation 1.103-8(a)(5).
6. All costs for such project paid in advance by the County or the Operator or otherwise
shall be eligible for reimbursement at the time of issuance of any permanent,tax-exempt
financing for such Project.
7. This Resolution shall take effect immediately upon its passage.
1 hereby certify that this is a true and correct copy of
an action taken end entered on the minutes of the
Board of Supsore on the date shown.
ATTESTED: q��,�_
cc: Community Development Dept. PHI BATCHELO C rk of the Board
County Administrator of Supervisors and County Administrator
County Counsel ex,
h15/project.res
RESOLUTION NO. 91/16