Laserfiche WebLink
10/26/2020 <br />RESOLUTION NO. 15898 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY <br />APPROVING THE TOWN OF ATHERTON'S WITHDRAWAL FROM THE <br />SOUTHBAYSIDE WASTE MANAGEMENT AUTHORITY (SBWMA), PROVIDED <br />ATHERTON SATISFIES ITS OBLIGATION TO LIQUIDATE ITS <br />PROPORTIONAL SHARE OF DEBT AS DETERMINED BY THE SBWMA <br />BOARD OF DIRECTORS ON AUGUST 20, 2020 AND THIS LIQUIDATION <br />OCCURS PRIOR TO DECEMBER 31, 2020 <br />WHEREAS, SBWMA is a joint powers agency established through a Joint Exercise of <br />Powers Agreement on December 9, 1999 by 12 San Mateo County entities to provide a regional <br />approach to the collection and disposition of solid waste, recyclable materials, and organic <br />materials, the Agreement has been amended and restated several times over the years, and the <br />current governing document, dated June 19, 2013, is entitled the "Second Amended and Restated <br />Joint Exercise of Powers Agreement" ("JPA"); and <br />WHEREAS, SBWMA issued bonds in 2000 to acquire and reconstruct the Shoreway <br />Environmental Center Facility, to be operated by SBWMA to meet the regulatory requirements for <br />solid waste and recyclables for its member agencies, the original bonds were defeased and new <br />bonds issued in 2009, and in 2019, SBWMA refunded the 2009 bonds, saving SBWMA money <br />and, at the same time, raising new funds for certain capital improvements (the 2019A and 20196 <br />bonds); and <br />WHEREAS, SBWMA is comprised of 12 member agencies, including the Town of <br />Atherton ("Atherton"), all of which are founding members of the SBWMA, and as such, "Equity <br />Members" under the JPA; and <br />WHEREAS, on June 29, 2020, Atherton sent SBWMA a Notice of Intent to Withdraw from <br />SBWMA, specifying December 31, 2020 as the date of withdrawal; and <br />WHEREAS, Article 15 of the JPA provides that a Member may not withdraw from SBWMA <br />unless and until that, Member achieves the following: <br />a. The liquidation in full of its proportion of any and all existing debts, <br />obligations, and liabilities incurred, earned, or expected to be <br />earned by the date of withdrawal, including but not limited to the <br />Revenue Bonds, as determined by the Board. <br />b. The provision to the SBWMA of a written notice of intent to <br />withdraw from the SBWMA at least six (6) months prior to the end <br />ATTY/RESO.0115/CC RESO APPROVING ATHERTON'S WITHDRAWAL FROM SOUTH BAYSIDE WASTE MANAGEMENT <br />RESO. NO. 15898 <br />REV: 10-08-2020 MI MUFF NO. 304 <br />Page 1 of 3 <br />