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There is hereby established the Solid Waste Environmental Trust Fund ("Trust Fund") to be administered by the Director. Expenses incident to the monitoring, maintenance, repair, remediation, conversion, construction, closure, lease, or sale of County-owned or formerly County-owned or operated inactive or closed solid waste disposal facilities or other real property necessary to the management of these facilities shall be paid for from this Trust Fund. These facilities and properties exclude those assets sold to Allied Waste Industries, Inc., as specified in the Purchase and Sale Agreement executed on August 12, 1997. Also, expenses incident to carrying out the County's responsibilities related to the Otay Class I site, the Ramona (landfill) Offsite Environmental Conditions and any pre-existing environmental liabilities at the North County Resource Recycling Facility (NCRRF) or solid waste facilities leased to Allied Waste Industries, Inc., as set forth in the Purchase and Sale Agreement shall be paid for from this Trust Fund. The funds held in the Trust Fund shall not be used or budgeted other than for the purposes set forth in this section. Anticipated costs for these various activities will be budgeted annually in the Inactive Waste Site Management Special Revenue Fund. The following costs that are related or incidental to the functions and responsibilities listed above that may be paid for from the Trust Fund include:
(a) Procurement of necessary services and supplies;
(b) Payment for permits or other regulatory fees and fines;
(c) Repayment of any loans;
(d) Legal services and litigation expenses;
(e) Acquisition or leasing of new and replacement equipment;
(f) Payment of allocated department personnel salaries and benefits;
(g) Payment of County and Departmental overhead and support costs;
(h) Acquisition of real property;
(i) Construction of major or minor facilities; and
(j) Procurement of technological studies and site management services.
This Trust Fund shall survive for a period of no less than thirty (30) years. The adequacy of the Trust Fund with respect to the responsibilities of the County for these sites, both during and beyond the initial thirty (30) year period, shall be reassessed and the information presented to the Board at least once every five (5) years. Monies from this fund shall be invested by the County Treasurer such that earnings are consistent with prudent investment practices and all earnings accrue to the Trust Fund. All interest earned by the Inactive Waste Site Management Special Revenue Fund shall also accrue to this Trust Fund. Monies from this Trust Fund may be loaned to any of the County family of funds for a period not to exceed 180 days with interest to accrue at the higher of the Treasurer's pool rate or the overnight investment rate.
(Added by Ord. No. 8853 (N.S.), effective 12-2-97; amended by Ord. No. 9074 (N.S.), effective 9-10-99; amended by Ord. No. 9672 (N.S.), effective 8-27-04; amended by Ord. No. 10237 (N.S.), effective 1-4-13; amended by Ord. No. 10645 (N.S.), effective 2-14-20; amended by Ord. No. 10726 (N.S.), effective 6-4-21)