Subject:
Title
Solid Waste Management Department's Capital Improvement Program and Financing Plan
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Fiscal Impact:
A third-party engineering study of the County's Solid Waste Management System is estimated to cost no more than $284,300.00.
Dept/Office:
Solid Waste Management Department
Requested Action:
Recommendation
It is requested that the Board of County Commissioners:
? Authorize staff to research the most cost-efficient bond financing method to fund the Solid Waste Management Department's Capital Improvement Program, including a third-party engineering study that is required for the publicly issued bonds, and;
? Authorize the County Manager to approve all appropriate Budget Change Requests for the third-party engineering study.
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Summary Explanation and Background:
On April 19, 2022, the Board of County Commissioners, during the regular session, authorized the Solid Waste Management Department to research the most efficient financing method for the 5-year and 25-year Capital Improvement Program. This included a third-party engineering study that was necessary for inclusion in an Offering Statement for Solid Waste Management System Revenue Bonds, Series 2023. On August 8, 2023, the Board, during regular session, approved an Amended and Restated Solid Waste Management System Revenue Bond Resolution and approved the sale of $53,853,821 in Solid Waste Management System Revenue Bonds, Series 2023.
The Department has the following Capital Improvement Projects (CIP) that will be funded in part by long-term financing: the Titusville Transfer Station Replacement, the U.S. 192 Class III Solid Waste Disposal Facility, and the Central Disposal Facility, the development of Class I Cell. In addition to the revenue it realizes through the annual Solid Waste assessments, additional long-term financing will be required to fund the Department's CIP. This additional long-term financing will require a third-party Engineer's Report.
Clerk to the Board Instructi...
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