Title
a. Conduct a public hearing pursuant to California Government Code Section 6584 et seq to approve and authorize the Salinas Valley Solid Waste Authority (SVSWA) to enter into an Equipment Lease/Purchase Financing Agreement with Capital One Public Funding, to provide for the purchase of new/used landfill equipment in an amount not to exceed $3,670,000;
b. Adopt a Resolution finding that the SVSWA's proposed Equipment Lease/Purchase Financing Agreement for the purchase of new/used landfill equipment will result in significant public benefits pursuant to California Government Code Section 6586.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Conduct a public hearing pursuant to California Government Code Section 6584 et seq to approve and authorize the Salinas Valley Solid Waste Authority (SVSWA) to enter into an Equipment Lease/Purchase Financing Agreement with Capital One Public Funding, to provide for the purchase of new/used landfill equipment in an amount not to exceed $3,670,000;
b. Adopt a Resolution finding that the SVSWA's proposed Equipment Lease/Purchase Financing Agreement for the purchase of new/used landfill equipment will result in significant public benefits pursuant to California Government Code Section 6586.
SUMMARY:
In 1996, the City of Salinas, the City of Gonzales, the City of Greenfield, the City of King, the City of Soledad, and the County of Monterey created the Salinas Valley Solid Waste Authority, a Joint Powers Agency (JPA) to provide for efficient and cost-effective solid waste management services, including acquiring and managing the landfill assets of each jurisdiction to ensure longer-term landfill capacity for the region and the implementation of diversion programs to ensure compliance with Assembly Bill 939 (AB 939, enacted in 1989) known as the Integrated Waste Management Act. AB 939 was passed in 1989 because of the increase in waste stream and the decrease in landfill capacity. AB...
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