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Commissioners question anaerobic digester plan, tax‑exempt bond request for Jones/United Sustainable Agriculture
Summary
Bond counsel and United Sustainable Agriculture described a proposed anaerobic digester at 500 Carlisle Road (Newville) to process up to 100,000 tons/year of manure and food waste; presenters said most permits are in place, the financing is a non‑recourse tax‑exempt conduit loan, and the IDA aims to close before year‑end to meet state volume cap allocation.
Jonathan Cox, bond counsel for the Cumberland County Industrial Development Authority, and representatives of United Sustainable Agriculture presented a proposed anaerobic digester project and sought the county’s statutory TEFRA/§147(f) approval process for tax‑exempt conduit financing.
Cox described the transaction as conduit financing among the IDA (issuer), United Sustainable Agriculture (borrower) and F&M Trust (lender). He said the financing would not obligate the county or any taxing authority and called it a non‑recourse obligation to the authority. Cox told the board the project qualifies as a solid‑waste revenue project under applicable treasury regulations and therefore may use tax‑exempt private activity…
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