HomeMy WebLinkAbout5045_CCv0001.pdf RESOLUTION NO. 5045
A RESOLUTION OF THE CITY OF REDLANDS AUTHORIZING FINANCIAL
ASSURANCE FOR CLOSURE OF THE CALIFORNIA STREET LANDFILL,
AND RESCINDING RESOLUTION 4917
WHEREAS, Public Resources Code Sections 43500 through 43610 and Sections
of Title 14 of the California Code of Regulations ("Regulations"), Division 7, Chapter 5, Article
3.5, require operators of solid waste landfills to demonstrate the availability of financial
resources to conduct closure and post closure maintenance activities; and
WHEREAS, Sections 18283 and 18285 of the Regulations specify an Enterprise
Fund and related financial assurance mechanisms as an acceptable mechanism to demonstrate
financial responsibility for financing closure of a solid waste landfill; and
WHEREAS, Section 18282 of the Regulations specifies the provisions for
determining the amount of required fund balance of the Financial Assurance Mechanism;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Redlands that:
SECTION A
1. The Finance Director of the City of Redlands ("Finance Director") is authorized
and directed to establish and maintain an Enterprise Fund ("Enterprise Fund") for
the California Street Landfill ("the Landfill") and to deposit in the Enterprise
Fund all revenue derived from the operations of the Landfill.
2. The Finance Director is further directed to withdraw funds from the Enterprise
Fund, for deposit into the financial assurance mechanism hereafter provided,
sufficient to meet the requirements of Sections 18282 and 18285 of the
Regulations on a timely basis.
3. The funds referred to in Section 2 above shall be deposited and retained by the
Treasurer of the City of Redlands ("Treasurer") in a separate fund to be known
as the California Street Landfill Closure Fund ("Closure Fund") established by
the Finance Director and shall be used to pay only for closure of the Landfill.
4. The Closure Fund shall be established in accordance with Section 18283 and shall
consist of a combination of an enterprise fund and government securities. The
Finance Director shall ensure that an appropriate amount of proceeds from the
City of Redlands' $7,980,000 Certificates of Participation, 1992 Solid Waste
Capital Improvement Projects, dated March 1, 1992, are specifically reserved for
closure in an amount equal to the required coverage in accordance with Section
18282.
5. The Closure Fund shall be and remain inviolate from all other claims, including
claims of this City or it's City Council or the creditors thereof. It being the
intent of this resolution that the mechanism established hereby will provide
protection equivalent to a trust fund by ensuring that the assured amount of funds
will be available in a timely manner for closure of the landfill.
6. Disbursement of funds for closure shall be in accordance with Sections 18262.3
of these Regulations.
7. The monies in the Closure Fund shall be invested by the Treasurer in the manner
provided by law.
8. In the event the California Integrated Waste Management Board ("the Board")
determines that the City of Redlands has failed, or is failing to perform closure
as required by law, the Board may direct the Finance Director to pay to the
Municipal Utilities Director from the Closure Fund such amounts as are necessary
to ensure sufficient funds for closure, who then shall be obligated to use such
funds for closure in accordance with the directive of the Board.
The Municipal Utilities Director is directed to produce an annual report for transmittal
to the Board, containing the following information concerning the Landfill:
(a) As appropriate, a revised closure cost estimate, prepared as specified by
Section 18263 of the Regulations.
(b) Status, including current balance of the Closure Fund.
(c) The number of current members of the City Council of the City of
Redlands who voted affirmatively when this resolution was adopted or last
reaffirmed.
SECTION B
1. Resolution 4917 is hereby rescinded.
Resolution No. 5045 Page 2
ADOPTED, SIGNED AND APPROVED this 1st day of February, 1994.
Mayor, City of Redlands
ATTEST:
City Clerk nom`
City of Redla , Cuiifornia
I, Lorrie Poyzer, City Clerk of the City of Redlands, hereby certify that the foregoing
Resolution was adopted by the City Council at a regular meeting thereof, held on the 1st day
of February , 1994, by the following vote:
AYES: CouncUmembers Foster, Cunningham, Gilbreath, Gil; Mayor Larson
NOES: None
ABSENT: None
.
City Clerk
Resolution No. 5045 Page 3