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Commissioners approve $14M solid waste financing; Cell IV construction to be funded from enterprise fund
Summary
The Board approved installment financing and related measures for solid waste, including funding for Cell IV construction, with financing presented as part of a broader package that includes Justice Center borrowing.
The Cleveland County Board unanimously adopted a resolution on Oct. 21 approving installment financing for Solid Waste projects, including funding for Cell IV construction and related equipment and capital needs. Finance staff told commissioners Solid Waste will use the enterprise fund for the Cell IV construction, and the $14 million figure was presented as part of the broader $89 million borrowing package tied to the Justice Center financing.
Finance Director Philip Steffen and County staff explained the Solid Waste portion will be financed over a 10-year term under the limited-obligation bond structure described in the Justice Center presentation. The Board approved the resolution on a motion by Commissioner Johnny Hutchins, seconded by Commissioner Doug Bridges; the contract and related documents are on file in the Finance Department. Officials said the Solid Waste financing was presented alongside the Justice Center funding and that the enterprise fund will be the source for Cell IV construction costs.
