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TEFRA Notice – IFA Waste Management

Notice of Public Hearing

NOTICE IS HEREBY GIVEN that on Friday, September 8, 2023, at 9:00 a.m., a public hearing will be held before the Executive Director of the Illinois Finance Authority (the “Authority”), or his designee, inside the North entrance of One North Old State Capitol Plaza, Springfield, Illinois 62701, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding a plan to issue not to exceed $50,000,000 aggregate principal amount of Solid Waste Disposal Revenue Bonds, Series 2023 (Waste Management, Inc. Project), of the Authority, in one or more series (the “Bonds”). In the event that the designated hearing location described in the preceding sentence is not adequate to accommodate social distancing concerns of any persons who arrive at the designated time of the hearing or is otherwise unavailable due to health concerns, at the request of anyone present or if the space is otherwise unavailable due to health concerns, the Authority will move the hearing outside in the immediate vicinity of the building and members of the public will be redirected to that location. In addition, the public hearing will be simultaneously accessible by residents, taxpayers and other interested persons telephonically on Friday, September 8, 2023 at 9:00 a.m., by dialing into the toll-free telephone conference line number: 888-494-4032, and entering access code: 795-179-0918. The proceeds of the Bonds will be loaned to Waste Management, Inc., a Delaware corporation (the “Borrower”), and will be used to (i) finance all or a portion of the cost of the acquisition, construction, improving, installation and/or equipping of certain solid waste disposal facilities, and (ii) pay certain costs relating to the issuance of the Bonds, if deemed necessary or desirable by the Borrower.

The expected initial legal owner or principal user of the facilities being financed with the proceeds of the Bonds is the Borrower or an affiliate of the Borrower (including Waste Management of Illinois, Inc., Countryside Landfill, Inc., Envirofil of Illinois, Inc., Waste Management of Five Oaks Recycling and Disposal Facility, Inc. and Advanced Disposal Services Orchard Hills Landfill, Inc.). A general functional description, the location of each such facility, and the estimated maximum aggregate principal amount of Bonds to be issued with respect to each such facility are listed below.

Location

General Functional Description

Maximum Financing Amount

31725 N. Route 83, Grayslake,

Lake County, Illinois

Landfill new cell construction, capping, and miscellaneous airspace and environmental costs

$5,000,000

13998 E. 1400th Street, Macomb,

McDonough County, Illinois

Landfill new cell construction, excavation and miscellaneous airspace and environmental costs

$1,000,000

10400 Hillstown Road, Marissa,

Saint Clair County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$5,500,000

21233 W. Laraway Road, Joliet,

Will County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$14,000,000

601 Madison Street, East Saint Louis,

Saint Clair County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$12,000,000

18370 N. Somonauk Road, DeKalb,

DeKalb County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$20,500,000

890 East 1500 North Road, Taylorville,

Christian County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$4,500,000

29755 S. Prairie View Drive, Wilmington‎, Will County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$8,500,000

‎‎18762 Lincoln Road, Morrison, Whiteside‎ County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$7,000,000

‎‎8290 N. IL Route 251, Davis Junction, Ogle‎ County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$13,500,000

‎‎1145 Bear Road, Decatur, Macon‎ County, Illinois

Landfill new cell construction, capping, excavation and miscellaneous airspace and environmental costs

$8,500,000

The Bonds are special, limited obligations of the Authority, payable solely out of the revenues and other funds pledged and assigned for their payment in accordance with a loan agreement between the Borrower and the Authority and the trust indenture pursuant to which the Bonds are issued. The Bonds do not constitute a debt of the Authority, the State of Illinois or any political subdivision thereof within the meaning of any provisions of the Constitution or statutes of the State of Illinois or a pledge of the faith and credit of the Authority, the State of Illinois or any political subdivision thereof or grant to the owners thereof any right to have the Authority or the General Assembly levy any taxes or appropriate any funds for the payment of the principal thereof or interest thereon. The Authority has no taxing power.

The above notice of public hearing is required by Section 147(f) of the Internal Revenue Code of 1986, as amended. At the time and place set for the public hearing, residents, taxpayers and other interested persons will be given the opportunity to express their views for or against the proposed plan of financing. In addition, residents, taxpayers and other interested persons that attend the public hearing telephonically by dialing into the toll-free telephone conference line number noted above will be given the opportunity to express their views for or against the proposed plan of financing at a designated point in the public hearing. Written comments may also be submitted to the Executive Director of the Authority via (i) email at publiccomments@il-fa.com or (ii) mail at his office located at 160 North LaSalle Street, Suite S-1000, Chicago, Illinois 60601 until September 6, 2023.

In accordance with the Americans with Disabilities Act (“ADA”), if any person with a disability as defined by the ADA needs special accommodations to participate in the public hearing, then not later than September 7, 2023, he or she should contact the Authority at (312) 651-1300.

NOTICE DATED: August 31, 2023.

By /s/ Christopher Meister

Executive Director

Illinois Finance Authority

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