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89 <br /> <br />NOTICE OF SPECIAL MEETING <br /> <br />A SPECIAL MEETING OF THE CHARLOTTESVILLE CITY COUNCIL WILL BE <br />HELD ON Wednesday, May 17, 2000 AT 5:20 p.m. IN THE Basement Conference <br />Room. <br /> <br />THE PROPOSED AGENDA IS AS FOLLOWS: <br /> <br />RESOLUTION: Approving Financing Package for Rivanna Solid Waste <br /> Authority <br /> <br />Discussion with Planning Commission Re: Comprehensive Plan <br /> <br />BY ORDER OF THE MAYOR <br /> <br />BY Jeanne Cox (signed) <br /> <br />BASEMENT CONFERENCE ROOM - May 17, 2000 <br /> <br /> Council met in special session with the Planning Commission on this date with <br />the following members present: Mr. Caravati, Mr. Cox, Ms. Daugherty, Ms. Richards, <br />Mr. Toscano. <br /> <br />~SOLUTION: APPROViNG FINANCING PACKAGE FOR RIVANNA SOLID <br />WASTE AUTHORITY <br /> <br /> Mr. Clyde Gouldmar~ City Attorney, explained that the Rivanna Solid Waste <br />Authority has reached a settlement regarding the Ivy Landfill with Mr. and Mrs. Booth, <br />though litigation with others continues. The Booth property will be sold to the Authority <br />to serve as a buffer. The Booths will be paid $700,000 initially and another $200,000 <br />over tune. It is felt that ~ agreement will help ensure the cominued operation of the <br />landfill in an environmentally safe manner and is in the best interest of the community. <br />Mr. Gouldman said that the resolution, which will also be acted upon by the Albemarle <br />County Board of Supervisors, will allow the Authority to borrow money to settle the <br />loan. <br /> <br /> On motion by Mr. Caravati, seconded by Mr. Toscano, the Resolution Approving <br />the Financing Package for Rivanna Solid Waste Authority was approved by the following <br />vote. Ayes: Mr. Caravati, Mr. Cox, Ms. Daugherty, Ms. Richards, Mr. Toscano. Noes: <br />None. <br /> <br /> WltEREAS, the City of Charlottesville and the County of Albemarle formed the <br />Rivanna Solid Waste Authority (the "Authority") in 1990 for the purpose of providing <br />regional solid waste management and to, among other things, operate the Ivy Landfill <br />(the "Landfill") located on approximately 300 acres of land south of Ivy, Virginia; and <br /> <br /> WHEREAS, the continued successful operation of the Landfill provides an <br />important public service supported by the City; and <br /> <br /> WltEP~AS, to enhance the fmanciat strength and continued suecessfhI operation <br />of the Landfill, the Authority proposes to obtain a line of credit in the principal sum of $2 <br />million (the "Credit Facility") from the Bank of America, N.A. (the "Lender") to support <br />continued operations and to finance the cost related to the settlement of a portion of a <br />lawsuit brought by certain citizens against the Authority, the C~y of Charlottes~dlle and <br />the County of AIbemarle related to the operation of the Landfill; and <br /> <br /> WHEREAS, the purpose of the Credit Facility has been ~lly discussed with the <br />City's Council and the Council supports the appropriateness of the Credit Facility; <br />however, the Council does not wish to be legally obligated to appropriate funds to the <br />Authority and believes the Authority should maintain its own financial credentials; and <br /> <br /> WHEREAS, although the Authority is a independent legal entity, the City has the <br />power to appoint certain directors of the Authority; and <br /> <br /> <br />