§46-19.1  Facilities for solid wasteprocessing and disposal and electric generation; financing; sale.  (a)  Inaddition to any other powers provided by law, any county may issue generalobligation bonds to finance a facility for the processing and disposal of solidwaste, or generation of electric energy, or both, pursuant to section 47-2.1,and provide for interest on the bonds which will accrue during the constructionperiod.  Any such facility shall be and constitute an undertaking as defined insection 49-1, and all revenues derived from the services and commoditiesfurnished by the undertaking, including the disposal of solid waste and thesale of steam and electric energy and recovered materials, shall constituterevenues of the undertaking.

Any law to the contrary notwithstanding, andparticularly section 47-7, bonds issued pursuant to this section to finance afacility for the processing and disposal of solid waste or generation ofelectric energy, or both may be sold at competitive or negotiated sale atwhatever price or prices, may bear interest at whatever rate or rates payableat whatever time or times, and may be made redeemable before maturity at theoption of the county, the holder, or both at whatever price or prices and uponwhatever terms and conditions as the governing body of the county or, ifauthorized by the governing body of the county, the director of finance maydetermine.

If bonds issued pursuant to this section forthe processing and disposal of solid waste and generation of electric energyare issued bearing interest at rates which vary from time to time and with aright of the holders to put the bonds, all as provided in the proceedingsauthorizing the issuance thereof, any county may contract for supportfacilities and remarketing arrangements as are required to market the bonds tothe greatest advantage of the county upon such terms and conditions as thegoverning body of the county shall approve by resolution.  The county may enterinto contracts or agreements with the entity or entities providing a supportfacility as aforesaid as the governing body of the county shall approve byresolution; provided that any contract or agreement shall provide, in essence,that any amounts due and owing by the county under the contract or agreement onan annual basis shall be subject to annual appropriations by the county, andany obligation issued pursuant to the terms of the contract or agreement in theform of bonds, notes, or other evidences of indebtedness shall arise only whenmoneys or securities have been irrevocably set aside for the full payment of alike principal amount of bonds issued pursuant to this section.  The selectionof entities to provide a support facility or to remarket bonds may be in suchmanner and upon such terms and conditions as the governing body shall approveby resolution.

(b)  If the governing body of the county shallfind that the sale of a facility for the processing and disposal of solidwaste, or generation of electric energy, or both will not deprive the county ofthe availability of the facility and will result in a reduction to the countyof the costs of the facility, any law to the contrary notwithstanding, anycounty may sell a facility financed pursuant to this section at competitive ornegotiated sale at such price and upon such terms and conditions as thegoverning body shall approve by resolution.  The sale may be pursuant to aninstallment sales contract or such other form of agreement as the governingbody shall approve by resolution.  A facility sold as authorized by thissubsection shall continue to constitute a public undertaking as provided insubsection (a), and the proceeds of such sale shall constitute revenues derivedfrom the services and commodities furnished by the undertaking.

(c)  A county may lease any facility sold asauthorized by this section or enter into an operating agreement or otherarrangement with the purchaser or a lessee of the purchaser of the facilityupon such terms and conditions as the governing body shall approve by resolution. So long as a facility sold as authorized by this section is available to thecounty, notwithstanding that availability is conditioned on payment ofreasonable fees for the services and commodities furnished thereby, thefacility shall be deemed used for a public purpose and payment of the costs ofconstruction shall constitute a purpose for which bonds may be issued asauthorized by subsection (a).

(d)  Insofar as this section is inconsistentwith the provisions of any law or charter, this section shall control.  Thepowers conferred by this section shall be in addition and supplemental to thepowers conferred by any other law or charter, and bonds may be issued and afacility financed from the proceeds thereof may be sold as authorized by this sectionnotwithstanding any debt or other limitation prescribed by any other law orcharter. [L 1985, c 291, §1; am L 1988, c 57, §3]

 

Note

 

  Sections 47-2.1 and 47-7 referred to in text are repealed.