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Last modified
8/19/2024 9:44:48 AM
Creation date
10/28/2021 4:12:07 PM
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Contracts
Company Name
REPUBLIC SERVICES
Contract #
A-2021-171
Agency
Public Works
Council Approval Date
8/17/2021
Expiration Date
6/30/2032
Insurance Exp Date
6/30/2025
Destruction Year
2037
Notes
For Insurance Exp. Date see Notice of Compliance
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Unrestricted Reserves or other funds of the County attributable to the Disposal System. "Restricted Reserves" shall <br />include, but not be limited to, the following: <br />by Applicable Law; (i) reserves for closure of components of the Disposal System to the extent required <br />(ii) amounts reserved by the County for funding of post closure maintenance and <br />monitoring with respect to components of the Disposal System; <br />(iii) reserves established to protect the Disposal System against the adverse financial <br />impact of potential decreases in waste deliveries pursuant to Section 4.2(B); <br />Disposal System; (iv) amounts reserved to pay the costs of capital improvements with respect to the <br />(v) amounts funded from revenues during .the early years of the term of the <br />Agreement reserved to enable the County to provide disposal services for the Contract Rate during the later years of <br />the Agreement; <br />(vi) amounts temporarily held by the County prior to payment to the State or other <br />Governmental Bodies pursuant to Applicable Law (including any fees or charges payable to the State Integrated <br />Waste Management Board); <br />(vii) reserves required to meet bond covenants pursuant to financing agreements for <br />Disposal System assets to the extent such amounts must be legally separate and distinct from other reserves <br />identified in this Section; <br />(viii) security deposits from landfill deferred payment program users; <br />(ix) amounts held by the County in the Environmental Fund (provided, however, that <br />such amounts in the Environmental Fund will be made available and used by the County if required to pay costs <br />relating to environmental remediation or other related costs); <br />(x) AB939 surcharges; <br />(xi) amounts held by the County in the Corrective Action Fund held pursuant to <br />CCR Title 27 to demonstrate financial assurance to pay for potential groundwater contamination; and <br />(xii) an amount equal to three months of budgeted expenses for the Disposal System <br />for the current fiscal year, representing working capital of the Disposal System. <br />SECTION 4.6 AUDITED FINANCIAL STATEMENTS. The County shall annually, on or before <br />January I each year, prepare or cause to be prepared and have on file for inspection an annual report for the <br />preceding Contract Year, accompanied by a certificate of an independent public accountant or of the County Auditor <br />and Controller as to the examination of the financial statements therein (describing such statements as fairly <br />presenting the information therein in conformity with generally accepted accounting principles) relating to the <br />Disposal System, the Disposal Services, and the fiscal activities of the County OC Waste Disposal Enterprise Fund, <br />and including statements in reasonable detail of the financial condition of the County OC Waste Disposal Enterprise <br />Fund as of the end of the Contract Year and revenue and expenses for the Contract Year. <br />SECTION 4.7 ANNUAL UPDATE OF TEN-YEAR FINANCIAL PROJECTION The County shall <br />annually, on or before May I of each year, prepare or cause to be prepared, an updated Ten -Year Financial <br />Projection for the Disposal System. Said Financial Projection shall include at least two full years of prior actual data <br />and ten years of future projections including the following elements: <br />Execution Cnpy 22 <br />August 17, 2021 6 - 31 City of Santa Ana <br />
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