HomeMy WebLinkAboutResolutions 1993 (12) RESOLUTION AUTHORIZING AMENDMENT OF THE SERVICE AGREEMENT
BETWEEN ST. CROIX COUNTY AND AMERICAN RESOURCE RECOVERY
Resolution No. ( C% 3)
St. Croix County, Wisconsin
WHEREAS, St. Croix County and American Resource Recovery (ARR) entered into
the Restated and Amended Service Agreement on July 28, 1987; and
WHEREAS, The Prudential Insurance Company of America and Prudential
Interfunding Corp. (Prudential) financed the construction of the ARR waste -to- energy
facility; and
WHEREAS, on April 12, 1993 the City of New Richmond authorized the issuance
of revenue bonds and lending the proceeds to ARR to replace the Prudential loan and
provide long -term financing for the waste -to- energy facility; and
WHEREAS, as a result of the replacement of lenders, the Restated and Amended
Service Agreement must be amended to reflect that change.
• THEREFORE, be it resolved by the St. Croix County Board of Supervisors that the
Waste Management Committee and Corporation Counsel are hereby directed to negotiate
amendments to the restated and Amended Service Agreement to reflect the replacement
of Prudential's loan with that of the revenue bond issue;
FURTHER, be it resolved that, when the Waste Management Committee and
Corporation Counsel are satisfied that appropriate amendments have been prepared, the
Board Chair, County Clerk and Administrative Coordinator are authorized and directed to
sign such document(s) on behalf of St. Croix County.
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ONO day of Ora) Dated this y , 1993.
Offered by: Waste Management Committee
NEGATIVE AFFIRMATIVE
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,M OF WISCONSIN
COUN Y OF ST. CFICi= e-/
Cri1r Clerk, 00 H::RESY CERTIFY
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