§46-19.1  Facilities for solid waste
processing and disposal and electric generation; financing; sale.  (a)  In
addition to any other powers provided by law, any county may issue general
obligation bonds to finance a facility for the processing and disposal of solid
waste, 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 construction
period.  Any such facility shall be and constitute an undertaking as defined in
section 49-1, and all revenues derived from the services and commodities
furnished by the undertaking, including the disposal of solid waste and the
sale of steam and electric energy and recovered materials, shall constitute
revenues of the undertaking.



Any law to the contrary notwithstanding, and
particularly section 47-7, bonds issued pursuant to this section to finance a
facility for the processing and disposal of solid waste or generation of
electric energy, or both may be sold at competitive or negotiated sale at
whatever price or prices, may bear interest at whatever rate or rates payable
at whatever time or times, and may be made redeemable before maturity at the
option of the county, the holder, or both at whatever price or prices and upon
whatever terms and conditions as the governing body of the county or, if
authorized by the governing body of the county, the director of finance may
determine.



If bonds issued pursuant to this section for
the processing and disposal of solid waste and generation of electric energy
are issued bearing interest at rates which vary from time to time and with a
right of the holders to put the bonds, all as provided in the proceedings
authorizing the issuance thereof, any county may contract for support
facilities and remarketing arrangements as are required to market the bonds to
the greatest advantage of the county upon such terms and conditions as the
governing body of the county shall approve by resolution.  The county may enter
into contracts or agreements with the entity or entities providing a support
facility as aforesaid as the governing body of the county shall approve by
resolution; provided that any contract or agreement shall provide, in essence,
that any amounts due and owing by the county under the contract or agreement on
an annual basis shall be subject to annual appropriations by the county, and
any obligation issued pursuant to the terms of the contract or agreement in the
form of bonds, notes, or other evidences of indebtedness shall arise only when
moneys or securities have been irrevocably set aside for the full payment of a
like principal amount of bonds issued pursuant to this section.  The selection
of entities to provide a support facility or to remarket bonds may be in such
manner and upon such terms and conditions as the governing body shall approve
by resolution.



(b)  If the governing body of the county shall
find that the sale of a facility for the processing and disposal of solid
waste, or generation of electric energy, or both will not deprive the county of
the availability of the facility and will result in a reduction to the county
of the costs of the facility, any law to the contrary notwithstanding, any
county may sell a facility financed pursuant to this section at competitive or
negotiated sale at such price and upon such terms and conditions as the
governing body shall approve by resolution.  The sale may be pursuant to an
installment sales contract or such other form of agreement as the governing
body shall approve by resolution.  A facility sold as authorized by this
subsection shall continue to constitute a public undertaking as provided in
subsection (a), and the proceeds of such sale shall constitute revenues derived
from the services and commodities furnished by the undertaking.



(c)  A county may lease any facility sold as
authorized by this section or enter into an operating agreement or other
arrangement with the purchaser or a lessee of the purchaser of the facility
upon 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 the
county, notwithstanding that availability is conditioned on payment of
reasonable fees for the services and commodities furnished thereby, the
facility shall be deemed used for a public purpose and payment of the costs of
construction shall constitute a purpose for which bonds may be issued as
authorized by subsection (a).



(d)  Insofar as this section is inconsistent
with the provisions of any law or charter, this section shall control.  The
powers conferred by this section shall be in addition and supplemental to the
powers conferred by any other law or charter, and bonds may be issued and a
facility financed from the proceeds thereof may be sold as authorized by this section
notwithstanding any debt or other limitation prescribed by any other law or
charter. [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.