Public Notices
PUBLIC NOTICE: SOLID WASTE DISPOSAL REVENUE BONDS (WASTE PRO USA, INC. PROJECT) SERIES 2023 $80,000,000
July 11, 2023
NOTICE OF PUBLIC HEARING
NOT EXCEEDING $80,000,000
LOUISIANA PUBLIC FACILITIES AUTHORITY
SOLID WASTE DISPOSAL REVENUE BONDS
(WASTE PRO USA, INC. PROJECT)
SERIES 2023
NOTICE IS HEREBY GIVEN that the Louisiana Public Facilities Authority (the “Authority”) will hold a public hearing on July 19, 2023, at 11 o’clock (11:00) a.m. at the offices of the Authority, 2237 South Acadian Thruway, Suite 650, Baton Rouge, Louisiana, with respect to the captioned revenue bonds (the “Bonds”). The Authority proposes to issue the Bonds in one or more series pursuant to a plan of finance in an aggregate face amount not to exceed $80,000,000, and the proceeds of the Bonds have been loaned by the Authority to Waste Pro USA, Inc., a corporation duly organized and existing under the laws of the State of Florida (the “Company”), for the purpose of, among other things, acquiring, constructing and equipping of facilities used in connection with the disposal, conversion, or reclamation of solid waste, including without limitation: (i) the acquisition and equipping of new collection vehicles, trucks, trailers, solid waste disposal facilities, including landfills, containers and related equipment, and computers; (ii) the acquisition of certain solid waste recycling sorting and processing equipment; (iii) the acquisition, construction, improvement and equipping of certain solid waste disposal facilities (including related compressed natural gas infrastructure), collection, transfer, recycling and customer care facilities; and (iv) certain landfill acquisition and development costs (including landfill cell development and liners to create additional disposal capacity at the Corporation’s current and/or acquired permitted landfill sites) and cost of general improvements (including paving and grading and other infrastructure improvements), in each case owned, managed and/or operated by the Corporation, or a related party, (the “Project”); (v) funding reserve funds if necessary; (vi) paying capitalized interest; and (vii) paying costs of issuance of the Bonds. The Project will be financed or refinanced as part of an ongoing plan of financing for eligible capital projects to be used as solid waste facilities and all components of the Project are to be owned, managed and/or operated by the Company.
The Project, as described above, consists of seven (7) distinct projects, with respect to which Project components are to be used in and as part of an integrated solid waste operation, as follows:
1. Not to exceed $17,500,000 stated principal amount of the Bonds for Project components to be located at: 920 Kenner Avenue, Kenner, LA 70062 (Jefferson Parish)
2. Not to exceed $5,000,000 stated principal amount of the Bonds for Project components to be located at: 550 Winward Drive, Covington, LA 70433 (St. Tammany Parish)
3. Not to exceed $6,200,000 stated principal amount of the Bonds for Project components to be located at: 2134 Bayou Blue Rd, Houma, LA 70364 (Terrebonne Parish)
4. Not to exceed $10,000,000 stated principal amount of the Bonds for Project components to be located at: 6468 Highway 73, Geismar, LA 70734 (Ascension Parish)
1774 N. Flannery Rd., Baton Rouge, LA 70815 (East Baton Rouge Parish)
5. Not to exceed $1,100,000 stated principal amount of the Bonds for Project components to be located at: 11266 Highway 23, Belle Chasse, LA 70037 (Plaquemines Parish)
6. Not to exceed $36,500,000 stated principal amount of the Bonds for Project components to be located at: 1500 New Rafe Mayer Rd, Baton Rouge, LA 70807 (East Baton Rouge Parish)
7. Not to exceed $31,500,000 stated principal amount of the Bonds for Project components to be located at: 5276 Galaxy Blvd, Darrow, LA 70725 (Ascension Parish)
5194 Highway 70, Sorrento, LA 70778 (Ascension Parish)
The Authority shall conduct the public hearing for the purpose of receiving comments on and hearing any objections (verbal or written) to the proposed issuance of the Bonds and the financing of the above described project. All interested parties are invited to attend such public hearing to express their views. Questions or requests for additional information may be directed to Foley & Judell, L.L.P., Attorneys and Counsellors at Law, One Canal Place, Suite 2600, 365 Canal Street, New Orleans, Louisiana 70130 (504) 568-1249.
Persons who intend to appear at the hearing and express their view are invited to contact Patricia A. Dubroc, President and Chief Executive Officer of the Authority, at the Authority’s offices, either in writing or by telephone (225) 923-0020, in advance of the hearing. Any interested persons unable to attend the hearing may submit their views in writing to Ms. Dubroc prior to the date scheduled for the hearing. The location and time of the hearing may be changed or an additional hearing will be scheduled if requested to do so in written requests submitted to Ms. Dubroc prior to the aforementioned date of the hearing by a significant number of interested persons.
The Bonds are secured solely by payments made by the Company, are not payable from any other revenue of the Authority or the State of Louisiana, and do not constitute an indebtedness of the Authority or the State of Louisiana, within the meaning of any constitutional or statutory limitation of indebtedness.
This notice is published and the aforementioned public hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the public approval prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the Bonds.
LOUISIANA PUBLIC FACILITIES AUTHORITY
July 12, 2023