HomeMy WebLinkAboutReso - CC - 043-2019RESOLUTION NO. 43-2019
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BURLINGAME
APPROVING THE ISSUANCE OF UP TO $64 MILLION OF SOLID WASTE
ENTERPRISE BONDS TO REFINANCE OUTSTANDING BONDS OF THE SOUTH
BAYSIDE WASTE MANAGEMENT AUTHORITY AND TO FINANCE CERTAIN
IMPROVEMENTS TO THE SOLID WASTE MANAGEMENT FACILITIES OF THE
SOUTH BAYSIDE WASTE MANAGEMENT AUTHORITY
WHEREAS, the City of Burlingame is one of twelve equity members of the South
Bayside Waste Management Authority (herein referred to as the "Authority"); and
WHEREAS, the Authority has proposed the issuance of solid waste enterprise revenue
bonds in one or more series to (i) refund the Authority's Solid Waste Enterprise Revenue Bonds
(Shoreway Environmental Center), Series 2009A, currently outstanding in the principal amount
of $44,685,000; (ii) pay the cost of certain improvements to the Authority's solid waste
management facilities, located in the City of San Carlos; (iii) fund a deposit to the reserve
account; and (iv) pay costs of issuance of the bonds.
NOW, THEREFORE, BE IT RESOLVED:
1. The City Council of the City of Burlingame approves the issuance by the Authority
of solid waste enterprise revenue bonds in an amount not to exceed $64,000,000.
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Mayor
I, Meaghan Hassel -Shearer, City Clerk of the City of Burlingame, certify that the foregoing
Resolution was introduced at a regular meeting of the City Council held at the 6th of May, 2019,
and was adopted thereafter by the following vote:
AYES: COUNCILMEMBERS: BEACH, BROWNRIGG, COLSON, KEIGHRAN, ORTIZ
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: NONE