Agenda - 04-29-2002 - 3c - Laserfiche WebLink

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^Reimbv:ewevt Amount' means, (a) in the case of disposition to a North Carolina local government that f also a Party, so long as chat government devotes the transferred portion to public purposes, (a) $600,023, being the original purchase price of the Greene Tract, multiplied (b) by a fraction, the numerator o which is the number of whole a of the Greene Tract being f disposed and the De nominator of which is 169, plus (c) uncommenudei interest on the product of (a) and (b) at the anneal rate of 6.00& from March 30, 1904, to the effective date of any disposition, and (2) in the case of any other disposition, the greater of either (a) the Reimbursement Fmouit to a North Carolina local government that is also a Party, or (b) the net proceeds of a sale after the costa of the sale are paid. Igalid Waste' me all materials accepted by the County for disposal at System Management Facilities, as the same may be established and amended from time to time under the Solid Waste Management Plan and Policies (subject to. the provisions of Part 2 which authorize the County to refuse NO accept for disposal any material o r substance which the County rea`sooably determines is barred from such disposal by any applicable Saw or regulation or the restrictions of any permit) , other than County Recyclables. 'Solid Waste aanagemevt Plan and Policies' means, the combination (a) the Integrated Solid Waste Management Plan, and all future modifications of that Plan, which is the report submitted pursuant to law to State authorities describing the long-term plan for solid waste- ma_nagement, which the County, as designated lead agency, files an behalf of the County and the Trans, bad (b) the solid waste management Policies, Which are, collectively, all Policies related to the System and coordinated solid waste management for the County, the towns and the persons and orgaal2atloas in their juriedictiene, as the same may exist from time to time (including all such policies in effect as of the date of thin Agreement) The term 'Solid Waste Management Plan and Policies- thereby encompasses all policy choices, as in effect from time to time, related to the manareal gement a operation of the System. 'State' means the State of North Carolina. 'System' means all assets, including both real and personal property, used from time to time in the conduct of the functions of collecting and processing County aecyclablea, reducing solid Waste, diapering of Solid Waste and maldung, composting e:W re-using solid Waste, and includes both (a) the Existing System Masts and (b) all Heys and investments related to such functions. -System Debt- names all obligations for payments of principal and interest with respect to borrowed money ncrred or assumed by the County in connection with the ownership on operation of the system, without regard to the to= of the transaction, and specifically including lea n similar ing agreements which are required to be capitalized accordance generally cepted accounting ,principles. System Debt i 'outstamdiage at all acimes after it as issued or contracted until it is paid.