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 Recology, Inc.
RECOMMENDATION:
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Conduct a public hearing under the Tax Equity and Fiscal Responsibility Act ("TEFRA") regarding the issuance of tax-exempt bonds by the California Municipal Finance Authority for the benefit of Recology, Inc.:
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 $20,000,000 for the purpose of financing the acquisition, construction, rehabilitation, renovation, installation, improvement and/or equipping of land, buildings, facilities and/or equipment, including but not limited to the management of capacity for the transfer and processing of municipal solid waste and rolling stock, for the collection, transfer and processing of municipal solid waste, including associated equipment and appurtenances thereto located within the County at 225 Shoreway Road, San Carlos, California, 94070 (collectively, the "Project").
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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 ...
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