Additional Requirements for Issuers of Solid Waste Disposal Facility Bonds

(1) In determining whether to grant an allocation to a solid waste disposal project, the secretary of A&F will evaluate the request based on the merits of the project relative to other proposed projects, and based on the following policy considerations: (2) The degree to which the project has achieved a sufficient degree of readiness in terms of financial commitments and developmental approval, as evidenced by the following factors: (a) Certification of preliminary official action and completion of all bond related public hearing requirements under federal law; (b) Evidence of the extent to which all permits or approvals required under federal or state law or local ordinance in order to authorize construction and operation of the project have been granted, or the extent to which the receipt of such permits and approvals is reasonably expected within the calendar year of the request for allocation; (c) The extent to which the viability of the project depends on the availability of tax exempt financing in the amount applied for, as evidenced by a financial plan for the project detailing the principal elements of revenue and expense; (d) The extent to which the project has obtained written commitments from municipal and/or commercial generators of waste to dispose of such waste at the project in relation to the number and duration of such commitments which are necessary to establish commercial viability under the project's financial plan; (e) The extent to which the municipal and/or commercial generators of waste which are committed to the project are currently disposing of waste at landfills which are subject to closure within five years; (f) Whether the project incorporates acceptable technology and procedure for reclamation of recyclable materials; (g) The extent to which the proposed project is to be financed out of debt or equity sources which reduce the need for tax-exempt financing; and (h) The extent of the experience represented by the developer, owner and operator of the project with respect to development and operation of solid waste disposal facilities and related projects on a long-term, financially and environmentally sound basis.