Sponsor: Finance
Title
title
2021 Solid Waste Facility Bond Ordinance - Set Public Hearing Date
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Recommendation
recommendation
Set a Public Hearing date of November 17, 2020 at 9:00 a.m., or as soon thereafter as possible, in the Council Chambers, third floor of the Ramsey County Court House, 15 West Kellogg Boulevard, Saint Paul, MN, on the proposed 2021 Solid Waste Facility Bond Ordinance.
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Background
background
Ramsey County proposes to issue general obligation solid waste facility revenue bonds in accordance with Ordinance No. 93-292, adopted July 29, 1993, which sets forth a procedure for issuing bonds in compliance with the Ramsey County Home Rule Charter.
The ordinance procedures in the Ramsey County Home Rule Charter require that a date for a public hearing will be set at the time of the first reading and the date shall be no sooner than 10 days after the first reading. A notification of the public hearing, which includes the draft Ordinance, will be publicized in advance of the public hearing.
This action sets the date of the Public Hearing as November 17, 2020 at 9am, or as soon thereafter as possible, in the Council Chambers on the proposed 2021 Solid Waste Facility Bond Ordinance. Due to the COVID-19 pandemic, there will be a virtual option to provide feedback included in the notice.
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County Goals (Check those advanced by Action)
☐ Well-being ☒ Prosperity ☐ Opportunity ☒ Accountability
Racial Equity Impact
This action by itself does not have a measurable racial equity impact, as the action is just one step in the ordinance process required by the County Charter to issue bonds. The County plans to issue bonds to finance numerous capital improvement projects, each of which provides programs and services to the community. The racial equity impact is considered during the development of the associated programs and services for each capital project.
Community Participation Level and Impact
The bonds issued by Ramsey County pursuant to this proposed ordinance will be joint obligations of Ramsey and Washington Counties, with the proceeds loaned to Ramsey/Washington Recycling and Energy Board for enhancements to the R&E Center. The enhancements are the result of policy direction in the two county solid waste management master plans. Preparation of the Ramsey County plan included significant community engagement, as did the purchase of the R&E Center and discussion about the enhancements. The County Board also holds a public hearing as part of the Bond Ordinance process to afford the public an opportunity to comment on this proposed project.
☒ Inform ☒ Consult ☒ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
The proposed 2021 Solid Waste Facility Bond Ordinance authorizes a maximum amount of $43 million of bond issuance to finance the R&E Center enhancement loans. The actual amount of bonding may be less and the final bonding amount will be determined and considered by the County Board at a later date. The County expects to receive loan payments from the R&E Board and Washington County equal to the required debt service on the County Bonds resulting in no cost to Ramsey County. The expected term of the loans and bonds is 25 years.
County Manager Comments
The Ramsey County Home Rule Charter requires that every ordinance have two readings and a public hearing. Bond financing aligns with the County’s Opportunity and Prosperity goals by facilitating strategic capital investments which cultivate economic development and prosperity in the community.
Last Previous Action
None.
Attachments
1.Draft Resolution
2.Proposed 2021 Solid Waste Facility Bond Ordinance
3.Public Hearing Notice
4.Proposed Schedule of Events - 2021 Solid Waste Facility Bond Sale