Title
HEARING - Consider recommendations regarding Tajiguas Resource Recovery Project Financing, as follows: (EST. TIME: 15 MIN.)
a) Hold a public hearing in accordance with the Tax and Equity Fiscal Responsibility Act of 1982 and approve a public financing for the primary purpose of the design, acquisition and construction of improvements to the County’s solid waste management system;
b) Adopt a Resolution authorizing the execution and delivery of a 2017 Installment Purchase Contract, a Trust Agreement and a Contract of Purchase; approving execution of an Assignment Agreement and Certificates of Participation to finance certain capital improvements to the solid waste system; approving an Official Statement for said Certificates of Participation; authorizing the execution and delivery of a Continuing Disclosure Agreement; and authorizing certain other actions in connection with the financing in an aggregate principal amount not to exceed $155,000,000.00, a term not to exceed 25 years, a net interest cost not to exceed 5% per annum and an underwriting discount (exclusive of original issue discount) not to exceed 0.35%;
c) Authorize the Treasurer-Tax Collector to abandon this issuance if market conditions are deemed financially unfavorable; and
d) Determine that the above actions are government funding mechanisms and/or fiscal activities that are not a project under the California Environmental Quality Act (CEQA) pursuant to section 15378(b)(4) of the CEQA Guidelines.
COUNTY EXECUTIVE OFFICER’S RECOMMENDATION: APPROVE