Orange County NC Website
^Reimbv:ewevt Amount' means, (a) in the case of disposition to a <br /> North Carolina local government that f also a Party, so long as chat <br /> government devotes the transferred portion to public purposes, (a) <br /> $600,023, being the original purchase price of the Greene Tract, <br /> multiplied (b) by a fraction, the numerator o which is the number of <br /> whole a of the Greene Tract being f disposed and the De nominator of <br /> which is 169, plus (c) uncommenudei interest on the product of (a) and <br /> (b) at the anneal rate of 6.00& from March 30, 1904, 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 Fmouit to a North Carolina <br /> local government that is also a Party, or (b) the net proceeds of a <br /> sale after the costa of the sale are paid. <br /> Igalid Waste' me 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 NO accept for disposal any <br /> material o r substance which the County rea`sooably determines is barred <br /> from such disposal by any applicable Saw or regulation or the <br /> restrictions of any permit) , other than County Recyclables. <br /> 'Solid Waste aanagemevt Plan and Policies' means, the combination <br /> (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 /> ma_nagement, which the County, as designated lead agency, files an <br /> behalf of the County and the Trans, bad (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 orgaal2atloas in their juriedictiene, as the same may <br /> exist from time to time (including all such policies in effect as of <br /> the date of thin 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 manareal gement a 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 aecyclablea, reducing solid Waste, <br /> diapering of Solid Waste and maldung, composting e:W re-using solid <br /> Waste, and includes both (a) the Existing System Masts and (b) all <br /> Heys and investments related to such functions. <br /> -System Debt- names all obligations for payments of principal and <br /> interest with respect to borrowed money ncrred or assumed by the <br /> County in connection with the ownership on operation of the system, <br /> without regard to the to= of the transaction, and specifically <br /> including lea n similar ing agreements which are required to <br /> be capitalized accordance generally cepted accounting <br /> ,principles. System Debt i 'outstamdiage at all acimes after it as <br /> issued or contracted until it is paid. <br />