Palm Beach County FL to Issue $700 Million in Bonds for New Incinerator

Date: November 12, 2010

Source: Palm Beach County

The Palm Beach County Florida Solid Waste Authority plans to issue $700 million in bonds to pay for a new 3,000 ton-per-day waste-to-energy plant. County Commissioners approved the project last February at which time the authority began seeking proposals to build and operate the plant. In August however, the Commissioners decided to abandon three proposals it had received and rewrite the project's requirements after its consulting firm Malcolm Pirnie met with the state's Department of Environmental Protection who indicated that newer pollution control technology would be needed to win the state's approval. Nonetheless, the authority is pushing ahead with the bond issue in order to save as much as $40 million in dept expense over the next twenty years. If issued this year, the bonds would be exempt from the alternative minimum tax. The waste-to-energy plant would augment the county's landfill and extend its life until 2040.

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