Archive Video - Dauphin County Counsel Chuck Zwally Discussing the 2007 C & D Notes (Part1)

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ARCHIVE VIDEO from 2007: Attorney Chuck Zwally explains the 2007 financing of the Harrisburg Incinerator to the Dauphin County Commissioners. Zwally refers to this RESOLUTION #27-2007 passed by a 2-1 vote by Dauphin County Commissioners on October 10, 2007____________________

RESOLVED, that the Board of Commissioners of the county of Dauphin hereby authorize and approve an advance in the amount of $2,250,000 to The Harrisburg Authority (the "Authority") for immediate payment to Covanta Energy Services, Inc. ("Covanta") for past due management fees under a certain Interim Operation and Maintenance Agreement by and between the Authority and Covanta (the "Interim Agreement"), subject to the following conditions:

the execution and delivery of a Cooperation Agreement among the City of Harrisburg (the "City"), the Authority, the County and Covanta in the form presented to this meeting, providing for, inter alia, Covanta to remain as operator of the Resource Recovery Facility (the "Facility") and for the commencement of the bidding process to complete construction of the Retrofit Project; and execution and delivery of a Tri-Party Interim Funding Agreement among the County, the City and the Authority in either one of the two forms presented to this meeting, as follows: Form I, which provides, inter alia, in section 2.2 that the City and the County are required to approve a Comprehensive Recovery Plan; or Form II, which provides, inter alia, that the City and the County are required to approve a Comprehensive Recovery Plan only if it is acceptable to each of them respectively and which provides for delivery of a note and City Guaranty with respect to repayment of the County's advance in the event a Comprehensive Recovery Plan is not adopted on or before December 1, 2007; and An acknowledgement by FSA, the bond insurer with respect to the Retrofit bonds that it has notice of these transactions and no objection thereto.

Photo/Natalie Cake

 
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