A county may take specified actions for pollution control projects, including making project agreements, issuing special purpose revenue bonds, using bond proceeds, securing bonds, and reentering or taking possession after breach or default.
In addition to any other powers provided by law, a county may: (1) Subject to the approval of the governing body of the county, enter into, amend, supplement, and carry out a project agreement with a project party, and enter into and carry out any other agreement whereby the obligations of a project party under a project agreement shall be unconditionally guaranteed or insured by, or the performance thereof assigned to, a person other than the project party; (2) By separate ordinance, approved by two-thirds of the members to which the governing body of the county is entitled, issue special purpose revenue bonds pursuant to this chapter in such principal amounts as may be necessary to finance the cost of the pollution control project; (3) Lend or otherwise apply the proceeds of the special purpose revenue bonds issued for a pollution control project, either directly or through a trustee or a project party, for use and application by the project party in the acquisition, construction, installation, or modification of a pollution control project, or agree with the project party whereby any of these activities shall be undertaken or supervised by that project party or by a person designated by the project party; (4) As security for the payment of the principal of and interest on special purpose revenue bonds issued to finance the costs of the pollution control project and any related agreement: (A) Pledge, assign, hypothecate, or otherwise encumber all or any part of the revenues and receipts derived or to be derived by the county under the project agreement; (B) Pledge and assign the interests and rights of the county under the project agreement or other agreement with respect to such pollution control project; (C) Pledge and assign any bond, debenture, note, or other evidence of indebtedness received by the county with respect to such pollution control project; or (D) Any combination of the foregoing; (5) With or without terminating a project agreement, exercise any and all rights provided by law for entry and reentry upon or to take possession of a pollution control project at any time, or from time to time, upon breach or default by a project party under a project agreement, including any action at law or in equity for the purpose of effecting its rights of entry or reentry or obtaining possession of the project or for the payments of the rentals, user taxes, or charges or any other sums due and payable by the project party to the county pursuant to the project agreement; and (6) Do all things necessary or proper to carry out the purposes of this chapter. [L 1983, c 237, pt of §2]