DATE: May 25, 2021
TO: Board of Supervisors
SUBMITTED BY: Jean M. Rousseau, County Administrative Officer
SUBJECT: Conduit Financing for Republic Services, Inc. (Not a County Liability)
RECOMMENDED ACTION(S):
TITLE
1. Conduct a public hearing under the Tax Equity and Fiscal Responsibility Act ("TEFRA") and the Internal Revenue Code of 1986, as amended (the "Code"), regarding the conduit issuance of tax-exempt solid waste disposal facility bonds ("Bonds") in a principal amount not to exceed $703,700,000, to finance and/or refinance the acquisition, construction, installation, rehabilitation, improvement, and/or equipping of solid waste disposal facilities by Republic Services, Inc., and certain affiliates thereof ("Republic Services") including a principal amount not to exceed $10,300,000 to finance and/or refinance solid waste disposal facilities located in Fresno County
2. Adopt the resolution approving a plan of finance for the conduit issuance of the Bonds by the California Municipal Financing Authority ("CMFA") for the benefit of Republic Services which adoption is solely for the purposes of satisfying the requirements of TEFRA and the Code.
REPORT
The County has received a request from the CMFA and Republic Services to conduct a public hearing concerning the conduit issuance pursuant to a plan of finance, in an amount not to exceed $703,700,000 of tax-exempt solid waste disposal facility bonds intended to finance and/or refinance improvements owned by Republic Services and its affiliates in 13 different counties (listed below), including $10,300,000 to finance or refinance collection and transfer station facilities located in Fresno County. Exhibit "A" includes the letter requesting the hearing. The two facilities located in Fresno County include Allied Waste Services of Fresno located at 5501 N Golden State Blvd in the City of Fresno and BFI Rice Road TS located at 10463 N Rice Road in the unincorporated area. The recommended actions are solely for ...
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