Discuss, consider and take any appropriate action regarding adopting an order relating to a public hearing and approving financing by Waste Management, Inc. and related matters in compliance with Section 501.159 of the Texas Development Corporation Act, Texas Local Government Code, chapter 501 and with Section 147(f) of the Internal Revenue Code (Note: The proposed resolution approving the bonds does not create any liability for Williamson County).

Attached is a document that provides the details regarding this bond issuance.  Waste Management, Inc. (“Waste Management”) has requested the Mission Economic Development Corporation (“MEDC”) issue $50,000,000 of tax-exempt bonds as part of a $100,000,000 three-year plan of finance for capital improvements at eight (8) facilities in Texas, including their facility located in Williamson County.  Section 147(f) of the Internal Revenue Code provides the bonds must be approved by: (1) the governmental entity which issued such bond, or on behalf of which such bond was issued; and (2) generally, each governmental entity having jurisdiction over the area in which the facility financed by the proceeds of such bond is located.  Item (2) is where Williamson County is involved because one of the facilities is located in Williamson County.  The approval must include a public hearing following reasonable public notice of the bond issuance.  This requirement is commonly known as the "TEFRA requirement" because it was originally added to the Code by the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA).  Documentation supporting the notice and public hearing is attached.  The bonds are not a liability of Williamson County.Further, in order to permit Waste Management to use proceeds of tax-exempt Bonds for the solid waste disposal facilities located in the County, approval of the Commissioners Court is required: (i) under Texas law (for the MEDC Issuer’s Bonds) pursuant to the Development Corporation Act, Local Government Code, Chapter 501, as amended, which may be telephonic.  A telephonic public hearing was held on April 6, 2023, and the Certificate of Public Hearing Officer is attached to the Order.