COUNTY OF SAN JOAQUIN

Transcription

1 ty" Office of the County Administrator 44 North San Joaquin Street, Suite 640 Stockton, California (209) , Fax (209) MONICA NINO County Administrator - ROSA LEE Assistant County Administrator DEB WEST Assistant County Administrator ANNUAL DISCLOSURE REPORT FOR FISCAL YEAR ENDED JUNE 30, 2015 Name of Issuer: County of San Joaquin, California Name of Bond Issue: $8,850,000 County of San Joaquin 2014 (Tax Exempt) Refunding Revenue Certificates of Participation (Solid Waste System Facilities) $3,800,000 County of San Joaquin 2014 (Taxable) Refunding Revenue Certificates of Participation (Solid Waste System Facilities) CUSIP Numbers: Date of Issuance: S8, HT6, HU3, V1, HW9, X7, HZ2, JA5 August 6, 2014 Date: March 4, 2016 Pursuant to Section 4 of the Continuing Disclosure Certificate, the Annual Report shall contain or include by reference: 1. Annual audited financial statements of the County. 2. The following tabular or numerical information contained in the Official Statement, dated July 23, 2014, relating to the 2014 Revenue Certificates: a. Table 1, Disposal Capacity of Active Class III Landfills in the County System b. Table 3, Historical Waste Deliveries to the County System c. Table 5, Historical Average Per Ton Tipping Fee

2 d. Table showing debt service coverage (calculated in accordance with the Installment Purchase Contract executed in connection with execution of the 2014 Revenue Certificates) If you have any questions or need further clarification, I can be reached at (209) Very truly yours, Jim Stone Deputy Director of Public Works

3 Disposal Capacity in the County System The following table identifies remaining disposal capacity at the North County Recycling Center & Sanitary Landfill and the Foothill Sanitary Landfill. The table identifies daily "throughput" capacity, in tons per day (TPD) that is denoted in the solid waste facility permit issued by the Local Enforcement Agency and California Integrated Waste Management Board. The "permitted throughput" denotes the maximum daily tonnage that a landfill is allowed to accept through the gate for landfilling by the permit conditions. The average daily throughput is lower than the permitted throughput, which allows for peaks in disposal quantities or excess permitted capacity. DISPOSAL CAPACITY OF ACTIVE CLASS III LANDFILLS IN COUNTY SYSTEM LANDFILL FACILITY (OWNERSHIP) REMAINING CAPACITY (in cubic yards) PROJECTED CLOSURE YEAR PERMITTED THROUGHPUT TONS PER DAY (TPD) AVERAGE THROUGHPUT (TPD, 2014) North County Recycling Center & Sanitary Landfill (County) 34,704, , Foothill Sanitary Landfill (County) 115,047, , Assumes County completed new Lined Fill Areas in 2015 as planned 2. According to July 2010 Joint Technical Design Document 3. According to February 2010 Joint Technical Design Document

4 Historical Waste Deliveries to the County System The following table shows waste deliveries of Class ill municipal solid waste generated within the County to the County System for the period from Fiscal Year through Fiscal Year HISTORICAL WASTE DELIVERIES TO THE COUNTY SOLID WASTE SYSTEM Percentage of Total Waste Delivered to Fiscal all facilities Year Tons in the County 2010/11 350,509 62% 2011/12 341, /13 363, /14 367, /15 370, Tipping Fees The County charges solid waste generators for use of the County System through the imposition of tipping fees for solid waste delivered to the County System. The tipping fees are imposed on solid waste haulers which utilize the County System, and on self-haulers. The average per ton tipping fee charged for use of the County System is currently per ton. The County Board of Supervisors routinely annually approves increases in the rates charged to users of the County System based on changes in an index reported in the Engineering News Record. The table below shows the historical average per ton tipping fee from Fiscal Year to Historical Average Per Ton Tipping Fee Fiscal Year Average Per Ton Tipping Fee 2010/ / / / / / Source: County of San Joaquin I. Estimated.

5 Debt Service Coverage The following table sets forth the operating results of the County System for fiscal year Summary Statement of Revenues, Expenses, Debt Service Coverage Fiscal Year Ending June 30, 2015 Revenues Before Rate Stabilization $22,452,109 Rate Stabilization Withdrawal / (Contribution) (950,000) Revenues After Rate Stabilization 21,502,109 Maintenance and Operating Costs (I) 14,817,291 Net Revenues 6,684,818 Debt Service 2014 Certificates 1,896,926 Total Debt Service 1,896,926 Debt Service Coverage 352% Source: County of San Joaquin (1) Excludes Depreciation and Amortization.