Title
In the Matter of the Salinas Valley Solid Waste Authority Revenue Bonds, Series 2013, and the County's Notices of Intent to Withdraw from the Authority and the related Waste Delivery Agreement. (ADDED VIA ADDENDUM)
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Consider whether to amend Resolution No. 13-355, adopted December 3, 2013, concerning the County's approval of the Salinas Valley Solid Waste Authority Revenue Bonds, Series 2013, to provide a sunset date for the restriction on the Authority's ability to proceed with an autoclave or other experimental or developmental technology.
SUMMARY/DISCUSSION:
On December 3, 2013, the Board of Supervisors considered a number of options regarding the Notices of Intent to Withdraw from the Salinas Valley Solid Waste Authority and the related Waste Delivery Agreement, and the Salinas Valley Solid Waste Authority Revenue Bonds, Series 2013. At that time the Board determined to approve the bonds and rescind the Notices of Intent subject to acceptance of certain conditions by the Authority. A copy of the Resolution No. 13-355 setting forth those conclusions is attached as Attachment 1. The resolution provided that the Authority would be prohibited from pursing an autoclave or other developmental or experimental technology (unless, of course, the County and the Authority specifically agreed otherwise by separate instrument).
The Authority Board subsequently met on December 4, 2013, to consider the County's conditions. The Authority Board adopted a resolution agreeing to the County's conditions with one exception; The Authority has requested that the restriction on pursuing the other technologies be modified to provide for a sunset date of June 30, 2015, consistent with the sunset date on the restriction regarding the raising of rates, or if agreed to by the County's representatives to the Authority Board in attendance at a meeting held for that purpose. That condition is se...
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