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^Reimbursement Amounts means, (1) is the case of disposition to a~ 10 <br />Worth Carolina local government that is also a Fartiy, so long as that <br />government devotes the transferred par~ioa to public purposes, (a) <br />$608,823, being the original purchase price of the Greene Tract, <br />multiplied (b) by a fraction, the .numerator o•f which is the number of <br />whole acres of the Greene Tract being disposed and the denominator of <br />which is 169, plus (c) uncompouaded interest on the product of (a) and <br />{b) at the annual rate of 6.00 from March .30, ].984, to the effective <br />date of any disposition, and (2) is 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 casts of the sale are paid. <br />"SoZid Waste" means all materials accepted by the County far <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 ~o, the provisions of Part 2 <br />which authorize the County to refuse t+o~• accept far disposal any <br />material or substance which ,the Coux~,ty rea~oaably determines is barred <br />from such disposal by any applicable ~7.aw or regulation or the <br />restrictions of any permi.t), other than Cotanty Recyclables. <br />:y <br />"BoZ~d Waste Managemeat:PZaa and Poli,c~tes" 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 play 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 is effect from <br />time to time, related to the management and operation of the System. <br />"State"'means the State of North Catalina. <br />"System" means all assets, including both real, and personal <br />property, used from time to time, is 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 "outstaad.iag" at all times after it is <br />issued or contracted until it is paid. <br />18 <br />