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City of Redwood City <br />Notes to the Basic Financial Statements (Continued) <br />For the Year Ended June 30, 2025 <br /> <br /> <br />126 <br />Note 21 – Joint Ventures <br /> <br />South Bayside Waste Management Authority <br /> <br />The City is a member of the South Bayside Waste Management Authority (SBWMA), a joint powers authority <br />established to purchase the solid waste transfer station located in San Carlos, California from Browning-Ferris <br />Industries. Currently there are 12 public entities that are members of this organization. Each of these members also, by <br />individual and separate legislative action, has entered into a franchise agreement with Recology for solid waste <br />collection within their respective jurisdictions. <br /> <br />The SBWMA issued $20 million in bonds in 1999 to provide funds for the purchase of the transfer station. The debt <br />issued by the SBWMA is not an obligation of any of the member entities. During FY 2009-10, SBWMA issued $58.5 <br />million in bonds to finance improvements at the solid waste transfer station, and the remaining balance of the 1999 <br />bonds were retired. On July 9, 2019, SWBMA issued Solid Waste Enterprise Refunding Revenue Bonds, Series 2019A, <br />Non-Alternative Minimum Tax Green Bonds in the amount of $31.86 million and Solid Waste Enterprise Revenue <br />Bonds, Series 2019B, Alternative Minimum Tax Green Bonds in the amount of $16.915 million. <br /> <br />The SBWMA also serves as a regional forum for member entities to collectively pursue other solid waste management <br />matters such as rate setting, solid waste reduction, and meeting recycling goals as required by state law. Audited <br />financial statements are available from the SBWMA, c/o the City of Redwood City, 1017 Middlefield Road, Redwood <br />City, CA 94063. <br />7.C. - Page 158 of 269 <br />177