DATE: June 4, 2019
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Blue Hills Disposal Facility Amendment to Financial Assurance Mechanism for Post-Closure Care Permit Renewal
RECOMMENDED ACTION(S):
TITLE
1. Approve and authorize the Auditor-Controller/Treasurer-Tax Collector (and if he is not available, as determined by the County Administrative Officer, then the Chairman and the Director of Public Works and Planning, each, acting alone, is also so authorized):
a. to execute the County's Application for Amendment to Commercial/Standby Letter of Credit (the Application for Amendment) to authorize the Bank of the West to amend its existing $1,468,124 Irrevocable Standby Letter of Credit (Letter of Credit), which has been issued to the State of California Department of Toxics Substances Control (the DTSC), as beneficiary thereunder, so that the Bank of the West may thereby issue to DTSC an amendment to increase the Letter of Credit to $1,983,000 to satisfy the DTSC's revised financial assurance requirement for the County's post-closure care of the Blue Hills Disposal Facility (the DTSC Financial Assurance Requirement). (increase of County's financial obligation: $514,876); and
b. to authorize, and/or approve and execute, any and all necessary documents, instruments, notices, and/or agreements, subject to the review and approval of the Auditor-Controller/Treasurer-Tax Collector as to accounting form, subject to the review and approval of County Counsel as to legal form, that may be needed by Bank of the West to issue to DTSC the amendment to the Letter of Credit that that would increase the amount of the Letter of Credit to $1,983,000 to satisfy the DTSC Financial Assurance Requirement.
2. Approve and authorize the Auditor-Controller/Treasurer-Tax Collector, the Chairman and the Director of Public Works and Planning, to sign the Bank of the West Additional Authorized Signers form related to t...
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