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"Reimbursement Amount" means, (1) in the case of disposition to a <br /> North Carolina local government that is also a Party, so long as that <br /> government devotes the transferred portion to public purposes, (a) <br /> $608, 823, being the original purchase price of the Greene Tract, <br /> multiplied (b) by a fraction, the numerator of which is the number of <br /> whole acres of the Greene Tract being disposed and the denominator of <br /> which is 169, plus (c) uncompounded interest on the product of (a) and <br /> (b) at the annual rate of 6.00% from March 30, 1984, to the effective <br /> date of any disposition, and (2) in the case of any other disposition, <br /> the greater of either (a) the Reimbursement Amount to a North Carolina <br /> local government that is also a Party, or (b) the net proceeds of a <br /> sale after the costs of the sale are paid. <br /> "Solid Waste" means all materials accepted by the County for <br /> disposal at System Management Facilities, as the same may be <br /> established and amended from time to time under the Solid Waste <br /> Management Plan and Policies (subject to the provisions of Part 2 <br /> which authorize the County to refuse to accept for disposal any <br /> material or substance which the County reasonably determines is barred <br /> from such disposal by any applicable law or regulation or the <br /> restrictions of any permit) , other than County Recyclables. <br /> "Solid Waste Management Plan and Policies" means, the combination <br /> of (a) the Integrated Solid Waste Management Plan, and all future <br /> modifications of that Plan, which is the report submitted pursuant to <br /> law to State authorities describing the long-term plan for solid waste <br /> management, which the County, as designated lead agency, files on <br /> behalf of the County and the Towns, and (b) the Solid waste Management <br /> Policies, which are, collectively, all policies related to the System <br /> and coordinated solid waste management for the County, the towns and <br /> the persons and organizations in their jurisdictions,- as the same may <br /> exist from time to time (including all such policies in effect as of <br /> the date of this Agreement) . The term "Solid Waste Management Plan and <br /> Policies" thereby encompasses all policy choices, as in effect from <br /> time to time, related to the management and operation of the System. <br /> "State" means the State of North Carolina. <br /> "System" means all assets, including both real and personal <br /> property, used from time to time in the conduct of the functions of <br /> collecting and processing County Recyclables, reducing solid waste, <br /> disposing of Solid Waste and mulching, composting and re-using solid <br /> Waste, and includes both (a) the Existing System Assets and (b) all <br /> moneys and investments related to such functions . <br /> "System Debt" means all obligations for payments of principal and <br /> interest with respect to borrowed money incurred or assumed by the <br /> County in connection with the ownership or operation of the System, <br /> without regard to the form of the transaction, and specifically <br /> including leases or similar financing agreements which are required to <br /> be capitalized in accordance with generally accepted accounting <br /> principles . System Debt is "Outstanding" at all times after it is <br /> issued or contracted until it is paid. <br /> 18 <br />