Casella Waste Systems- Notice of Intent
Notice is hereby given that the Finance Authority of Maine (FAME) intends to issue Revenue Obligation Securities (the “Securities”) pursuant to the Finance Authority of Maine Act (Chapter 110 of Title 10 of the Maine Revised Statutes, as amended) and has issued its Certificate of Approval for the Project to be financed with proceeds of the Securities. Set forth below is a summary of the Certificate including a description of the purpose for which the Securities will be issued, a statement of the maximum principal amount of the Securities and the time within which any proceeding to set aside certain actions of FAME with respect to the Project or the Securities or otherwise obtain relief on grounds of invalidity of such action must be commenced.
PROJECT OWNER AND/OR USER: Casella Waste Systems, Inc. or its affiliates
PROJECT LOCATIONS: The Project comprises eleven (11) distinct components, each of which is or has been operated by the Company or its affiliates as an integrated solid waste operation, as follows:
- Biofuels – Approximately $100,000 stated principal amount for refinancing Project components located at:
38 Alfred Plourde Parkway, Lewiston, Maine 04240 (Androscoggin County) - Casella Organics – Not to exceed $1,500,000 stated principal amount for Project components located at:
48 Liberty Drive, Suite A, Hermon, Maine 04401 (Penobscot County)
5 Fundy Road, Falmouth, Maine 04105 (Cumberland County)
1100 Waterville Road, Unity, Maine 04988 (Waldo County)
73 Reynolds Road, Unity, Maine 04988 (Waldo County) - Casella Recycling – Not to exceed $1,500,000 stated principal amount for Project components located at:
424 River Road, Lewiston, Maine 04240 (Androscoggin County)
13 Gibson Road, Scarborough, Maine 04074 (Cumberland County) - Casella Eastern Region Office – Not to exceed $250,000 stated principal amount for Project components located at:
207 Larrabee Road, Westbrook, Maine 04092 (Cumberland County)
110 Main Street, Suite 1380, Saco, Maine 04072 (York County) - Hampden, Maine Landfill – Approximately $7,500,000 stated principal amount for refinancing Project components located at:
358 Emerson Mill Road, Hampden, Maine 04444 (Penobscot County) - Hermon, Maine Collection – Not to exceed $6,500,000 stated principal amount for Project components located at:
31 Freedom Parkway, Hermon, Maine 04401 (Penobscot County)
25 Freedom Parkway, Hermon, Maine 04401 (Penobscot County)
246 Gilman Falls Avenue, Old Town, Maine 04468 (Penobscot County) - Houlton, Maine Collection – Not to exceed $2,000,000 stated principal amount of Project components located at:
9 Florence Avenue, Houlton, Maine 04730 (Aroostook County)
37 Florence Avenue, Houlton, Maine 04730 (Aroostook County) - Juniper Ridge, Maine Landfill – Not to exceed $22,500,000 stated principal amount of Project components located at:
2828 Bennoch Road, Old Town, Maine 04468 (Penobscot County) - Maine Energy – Approximately $4,000,000 stated principal amount for refinancing Project components located at:
3 Lincoln Street, Biddeford, Maine 04005 (York County) - Southern Maine Portland Collection – Not to exceed $11,500,000 stated principal amount of Project components located at:
66 Andrews Road, Biddeford, Maine 04005 (York County)
64 Arthur J Reno Sr. Road, West Bath, Maine 04530 (Sagadahoc County)
299 Walkers Mills Road, Bethel, Maine 04217 (Oxford County)
30 Elm Street, Mechanic Falls, Maine 04256 (Androscoggin County)
32A Lewiston Street, Mechanic Falls, Maine 04256 (Androscoggin County)
87 Pleasant Hill Road, Scarborough, Maine 04074 (Cumberland County)
594 County Road, Westbrook, Maine 04092 (Cumberland County) - Waterville Maine Collection – Not to exceed $5,000,000 stated principal amount of Project components located at:
73 Main Street, Mars Hill, Maine 04758 (Aroostook County)
6 Gerald Terrace, Fairfield, Maine 04937 (Somerset County)
3 Lafleur Road, Waterville, Maine 04901 (Kennebec County)
DESCRIPTION OF PROJECT: The Project consists of the (1) refinancing of the currently outstanding $25,000,000 stated principal amount of Finance Authority of Maine Solid Waste Disposal Revenue Bonds (Casella Waste Systems, Inc. Project) Series 2005R-3 (the “Series 2005 Bonds”), which financed certain solid waste disposal facilities, including landfill development costs and construction, disposal equipment and related improvements, Maine Energy Recovery Company capital maintenance, buildings and office improvements, office equipment, vehicles, containers, equipment, land and the costs of issuance of the Series 2005 Bonds; (2) financing of the acquisition, development, construction and/or equipping of facilities used in connection with the disposal, conversion, or reclamation of solid waste, including, without limitation: (A) the acquisition and equipping of new collection vehicles, trucks, trailers, solid waste disposal containers and related equipment, and computers; (B) the acquisition and installation of certain solid waste recycling sorting and processing equipment; (C) the acquisition, construction, improvement and equipping of certain solid waste disposal, collection, transfer, recycling and customer care facilities; (D) the acquisition and development of landfill facilities including (i) landfill cell development and liners to create additional disposal capacity at the Company’s permitted landfill sites, (ii) landfill gas treatment and processing infrastructure, and (iii) other related costs including paving, grading and other infrastructure improvements; and (E) additional capital expenditures for the development, design, engineering, replacements, demolition, construction, and renovation that were, or will be, undertaken or incurred to accomplish the foregoing; and (3) the funding of the costs of issuance and other common costs of the Series 2024 Revenue Obligation Securities.
All such Project components were or are located or are to be located at and operated from and at one or more of the Project locations identified above. The Project shall also include any installation, development, design, engineering, replacements, demolition, improvements, equipment, construction, renovation, structures, permitting and capital expenditures that were, or will be, undertaken or incurred to accomplish the foregoing.
MAXIMUM AMOUNT OF REVENUE OBLIGATION SECURITIES TO BE ISSUED BY FAME TO PROVIDE FINANCING FOR THE PROJECT: $45,000,000
Any action or proceeding in any court to contest the issuance of the Securities, to set aside the Certificate of Approval for the Project or to obtain relief upon the grounds that the Certificate of Approval was improperly issued, was issued for unauthorized purposes or is otherwise invalid for any reason, must be started within 30 days after the date of publication of this Notice. After the expiration of such a 30-day period of limitation, no right of action or defense founded upon the invalidity of the approval; or contesting any provision or the issuance of the Certificate of Approval or the issuance of the Securities may be started or asserted nor shall the Certificate of Approval or the issuance of Securities be open to question in any court upon any grounds.
This Notice published pursuant to 10 M.R.S.A. Section 1044(1).
Finance Authority of Maine
5 Community Drive
P.O. Box 949
Augusta, ME 04332-0949
(207) 623-3263
Contact Person: Christopher H. Roney, General Counsel
croney@FAMEmaine.com
