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Posted: June 16, 2017 1:35 p.m.

SWMA elects new officers, gives final approval to bonds

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COVINGTON, Ga. – The Newton County Solid Waste Management Authority (SWMA) elected a new chairman and gave final approval to a $25 million bond issuance at its regular meeting Thursday.

Vice Chairman Phillip Wise, who served as acting chairman at the beginning of the meeting was formally elected to the post by unanimous vote after being nominated by SWMA and Board of Commissioners (BOC) member Nancy Schulz. Schulz was elected to serve as vice chairman. The chairman’s job came open June 5 when Wayne Haynie resigned.

Wise and Schulz will serve in their posts until August when the SWMA expands to seven members. The BOC voted to downsize the Authority to five members at its June 6 meeting after the resignations of two members.

The SWMA also voted final approval of a $25 million bond issuance. The Authority had voted to authorize preparations for the bonds at its May meeting. After the May meeting, county Public Information Officer (PIO) Bryan Fazio provided the breakdown of what the bonds will go for:

Refinancing of GEFA (Georgia Environmental Finance Authority) loan - $3,380,557

Excavation and Reclamation Phase 1 at the landfill - $9,927,821

Landfill Acquisition - $10,212,215

Total - $23,420,593

Fazio said the remainder of the money will go toward paying fees associated with the bond issuance.

The SWMA also voted to approve changes to its intergovernmental agreement (IGA) with the BOC. Under terms of the new IGA, approved by the BOC at a special called meeting Tuesday night, the SWMA will be responsible paying the debt service on the largest portion of the bond issuance.

County Finance Director Nicole Cross told the Authority the county has sold 401 of the $145 all access hangtags which go into effect July 1. The county hopes to sell 10,000 of the tags. Cross said 53 of the $24 recycling tags have been sold. The current $50 hangtags expire June 30.

 

 

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