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Franklin County Legislature approves Solid Waste Authority bond authorization to finance landfill cell expansion
Summary
By roll call on April 24 (action recorded May 2), Franklin County's Legislature approved a county-level sign-off under IRC §147(f) permitting the Solid Waste Management Authority to issue up to $7.25 million in Solid Waste System Revenue Bonds to fund construction of landfill Cell 6 at the regional landfill, a project projected to add roughly 6.2 acres of lined disposal area.
The Franklin County Legislature approved, pursuant to the public hearing required by section 147(f) of the Internal Revenue Code, the Franklin County Solid Waste Management Authority's plan to issue up to $7.25 million in Solid Waste System Revenue Bonds to finance construction of Cell 6 at the regional landfill in Constable.
The Authority notified the Legislature that Cell 6 will create approximately 6.2 acres of lined disposal area and is expected to provide landfill capacity for roughly seven years based on an assumed annual usage rate of 88,672 cubic yards. The approval was granted for the sole federal tax purpose of permitting interest on the bonds to be excluded from gross income under applicable sections of the Code.
Legislator Sherwin moved the resolution and Legislator Lauzon seconded; Clerk Penny A. Premo conducted a roll call and all members voted in the affirmative (7–0). The resolution notes that required environmental approvals and permits for the long-term landfill expansion had been received.
