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Landfill Bond

Posted on 2nd October 2013 at 15:57

The funding plan for Cowlitz County’s purchase of the Headquarters Landfill from Weyerhaeuser is now in place, as the County Commissioners vote to sell $35 million in bonds to support that project. County Commissioner Jim Misner says that this is an investment in Cowlitz County’s future…landfillbond…The County actually plans to put up about $31.3 million in bonds for sale, expecting to realize about $35 million in proceeds when the sale is complete. They also expect to pay the bonds off through proceeds from the landfill, operating close to break-even in the first year or so, but making additional profits through the 20-year life of the bonds. The full price for purchase and improvements is put at about $40 million, so the county is also putting $5 million from the Landfill Equipment, Land and Facilities Fund to cover the final gap. Now, the county is waiting for approval of the permit that would allow the acceptance of municipal waste at the facility. That decision is expected a little later this month. If the state denies that permit, then the entire deal would be quashed.