Bond Sale to Fund Recycling Program
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The city has launched an $11.9-million bond offering to pay for an ambitious recycling program expected to be in place by early next year.
Santa Ana will use the proceeds of the bond sale to buy 25 trash trucks and 120,000 trash containers later this year, said Robert J. Coyle, president of Great Western Reclamation, the city’s trash hauler.
The city will own the trash containers and trucks, but the trucks will be operated and maintained by Great Western.
Coyle said an underwriter has agreed to buy the bonds Tuesday. The underwriter, in turn, will sell the bonds to investors.
Councilmen Ted R. Moreno and Tony Espinoza opposed the agreement with Great Western, arguing that the city should have sought bids before awarding the contract and might have found a better deal by doing so.
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