Special Notice / Hearing: 7 days newspaper publication per 26 CFR 1.147(f)-1__
Vote Required: Majority
To: Honorable Board of Supervisors
From: John D. Nibbelin, County Attorney
Subject: Public Hearing and Resolution Approving California Municipal Finance Authority Tax-Exempt Bonds for the benefit of Republic Services, Inc.
RECOMMENDATION:
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Conduct a public hearing under the Tax Equity and Fiscal Responsibility Act regarding the issuance of tax-exempt bonds by the California Municipal Finance Authority:
A) Open public hearing
B) Close public hearing
C) Adopt a resolution approving a plan of finance for the issuance of California Municipal Finance Authority solid waste disposal revenue bonds in an aggregate principal amount not to exceed $400,000,000 for the purpose of financing and refinancing the acquisition, construction, installation, rehabilitation, improvement and/or equipping of solid waste disposal facilities by Republic Services, Inc. and certain affiliates thereof, including a portion thereof in an amount not to exceed $75,000,000 that will be used to finance and/or refinance certain capital projects located within the territorial limits of San Mateo County at Ox Mountain Landfill, 12310 San Mateo Rd (Hwy 92), Half Moon Bay, CA 94019, and certain other matters relating thereto.
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BACKGROUND:
The California Municipal Finance Authority (the "CMFA" or "Authority") was created on January 1, 2004 pursuant to a joint exercise of powers agreement ("Agreement") to promote economic, cultural and community development, through the financing of economic development and charitable activities throughout California. To date, over 350 municipalities, including the County of San Mateo (the "County"), have become members of CMFA.
The Agreement provides that the CMFA is a public entity, separate and apart from each member executing such agreement. The debts, liabilities and obligations of the CMFA do not constitute debts, liabili...
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